Companies

Walmart India to lay-off 56 employees as part of corporate restructuring

Our Bureau New Delhi | Updated on January 13, 2020 Published on January 13, 2020

Walmart India, which operates 28 cash & carry stores in the country, said it is laying-off 56 employees across various levels as part of its strategy to overhaul its corporate structure. This includes eight senior-level and 48 middle and lower level employees stationed at its Gurgaon corporate office.

In a statement, Krish Iyer, President & CEO, Walmart India said, “ We are....looking for ways to operate more efficiently, which requires us to review our corporate structure to ensure that we are organised in the right way. As part of this review, we have let go 56 of our associates across levels at the corporate office.” He said all of the 56 impacted associates have been offered enhanced severance benefits and outplacement services to support their transition.

The company currently operates 28 cash and carry stores in the country. “Walmart remains committed to growing its B2B Cash & Carry business in India. We opened 6 new Best Price modern wholesale stores, 1 Fulfilment Center and our sales grew 22 per cent in 2019,” Iyer added.

The corporate restructuring also comes at a time when the retail major is enhancing its focus on its omni-channel strategy. “We have recently made significant investments to serve our members better and will continue to do so. This includes investments in our brick and mortar stores as well as e-commerce. Our members are increasingly becoming omni-channel shoppers. We are thus investing heavily in technology and have a healthy pipeline of Best Price stores. This will provide our members a true omni-channel and convenient shopping experience in the future.

The leading retailer giant bought controlling stake in e-commerce major Flipkart in 2018. Last year, it decided to set up its food retail subsidiary called the Flipkart Farmermart, in line with the government’s FDI policy which allows 100 per cent FDI in food retail for food produced and manufactured in India.

Published on January 13, 2020
This article is closed for comments.
Please Email the Editor