Business

Walmart India ‘lets go’of 56 employees

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Move part of corporate restructuring

Walmart India on Monday said it is laying off 56 employees across various levels as part of a corporate restructuring exercise. The company currently operates 28 Cash & Carry stores in the country.

“We are also looking at 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,” Krish Iyer, president & CEO, Walmart India, said in a statement.

Of the 56 impacted employees, eight are in senior management and 48 are from the middle and lower management levels. Mr. Iyer said that these associates had been offered “enhanced severance benefits and outplacement services to support their transition”. He further denied reports of a second round of lay-offs in April as “baseless and incorrect”.

Mr. Iyer added that Walmart, which first entered India in 2007, remained committed to growing its business-to-business Cash & Carry business in India.

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Printable version | Jan 21, 2020 9:48:12 AM | https://www.thehindu.com/business/walmart-india-lets-goof-56-employees/article30561410.ece

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