Walmart India to lay off over 100 senior executives, halt expansion
today Jan 13, 2020
Walmart India is laying off around a third of its executives based in Gurugram including in its fast moving consumer goods sector and also plans to halt new store expansion and close its fulfilment centre in Mumbai.
As US retailer Walmart’s India business suffers losses, it plans to lay off over 100 senior executives, the business announced in a townhall meeting on January 10, ET Bureau reported citing anonymous sources. The layoffs will include vice presidents in its FMCG, sourcing, and agri-business and Walmart India’s real estate team charged with finding suitable locations for new stores has been disbanded.
“We are always looking for ways to operate more effectively to serve our members,” a Walmart spokesperson told ET Bureau. “This requires us to review our corporate structure to ensure that we are organised in the right way to best meet the needs of our members. Impacted associates have been offered enhanced severance benefits and outplacement services to support their transition.”
Walmart, which entered India in 2007, is also expected to lay off more employees around April, according to the sources. The business’ largest fulfilment centre in India, located in Mumbai, is scheduled to shut down which could mark the end of Walmart’s cash and carry business expansion in the country.
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