15-year-old girl gang-raped, brutalised like Nirbhaya in Haryana

New Delhi, Jan 13: Walmart, the world’s largest retailer, has fired around 50 of its India executives as part of its restructuring in the country, three sources with direct knowledge said.

The move underscores the struggles Walmart has faced in expanding its wholesale business in India. The Bentonville, Arkansas based company currently operates 28 wholesale stores where it sells goods to small shopkeepers, and not to retail consumers.

The firings mostly affected executives in the company’s real estate division because the growth in the wholesale model has not been that robust, two of the sources said.

“It’s happening because focus is shifting to e-commerce rather than physical (stores),” said one source, who declined to be identified as the decision is not public.

Walmart did not respond to a request for comment.

Walmart has placed bold bets on India’s e-commerce sector. In 2018, it paid $16 billion to acquire a majority stake in India’s online marketplace Flipkart, in its biggest global acquisition.

The second source added that while Walmart could slow down the pace of opening new wholesale stores, the focus will increasingly be on boosting sales through business-to-business and retail e-commerce.

Some of the executives were sacked last week and more could be let go on Monday, two sources said.

In a statement to India’s Economic Times newspaper, which first reported the news, Walmart said it was always looking for ways to operate more effectively and that “this requires us to review our corporate structure to ensure that we are organized in the right way to best meet the needs of our members.”

Walmart has around 600 staff in its India head office out of a total of around 5,300 nationally, one of the sources said.

New Delhi, Jun 10: India on Wednesday reported a spike of 9,985 more COVID-19 cases in the last 24 hours, taking the country's COVID-19 count to 2,76,583, according to the Union Ministry of Health and Family Welfare.

279 deaths were reported in the last 24 hours taking the total death toll to 7,745.

The total number of active cases has reached 1,33,632 while 1,35,205 patients have recovered. While one person has migrated.

With 90,787 cases, Maharashtra reported the highest number of coronavirus cases in the country followed by Tamil Nadu with 34,914 cases.

According to the Indian Council of Medical Research (ICMR), 1,45,216 samples were tested in the last 24 hours while overall 50,61,332 samples have been tested so far.

San Francisco, Mar 14: Microsoft on friday announced that co-founder Bill Gates has left its board of directors to devote more time to philanthropy.

The 64-year-old stopped being involved in day-to-day operations at the firm more than a decade ago, turning his attention to the foundation he launched with his wife, Melinda.

Gates served as chairman of Microsoft's board of directors until early in 2014 and has now stepped away entirely, according to the Redmond-based technology giant.

“It's been a tremendous honor and privilege to have worked with and learned from Bill over the years,” Microsoft chief executive and company veteran Satya Nadella said in a release.

Nadella said Microsoft would continue to benefit from Gates' “technical passion and advice” in his continuing role as a technical advisor.
“I am grateful for Bill's friendship and look forward to continuing to work alongside him,” he added.

Gates left his CEO position in 2000, handing the company reins to Steve Ballmer to devote more time to his charitable foundation.

He gave up the role of chairman at the same time Nadella became Microsoft's third CEO in 2014.

Regularly listed among the world's richest people, William H. Gates was a geeky-looking young man when he and Paul Allen co-founded Microsoft in 1975.

Gates went on to turn his attention from software to fighting disease and other humanitarian challenges with his wife, under the auspices of the Bill and Melinda Gates Foundation.