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The Silicon Review Asia

Walmart India Lays off Top Executives

Walmart India Lays off Top Executives

Walmart India is in turmoil as they proceed to fire a third of their top level executives based at their headquarters in Gurgaon. Walmart announced the news of firing more than a 100 senior executives including vice presidents across agri-business, sourcing, and fast-moving consumer goods on Friday. Walmart has also planned on shutting down the Mumbai centre, its biggest warehouse and has currently stopped expanding warehouses in India.

Sales have been down for Walmart India for the first time in a decade since it has entered the country. The real estate team responsible for finding new store locations has been demobilized according to the reports mentioned above.

Walmart India has not commented on the exact number of people it has laid-off but has said that it remains to stay committed to its growth in India. “We are always looking for ways to operate more effectively to serve our members. 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,” a Walmart India spokesperson said. “Impacted associates have been offered enhanced severance benefits and outplacement services to support their transition.”

More people are expected to be let go later in the year. “This is the first phase of layoffs and we expect the next round by April,” said one of the persons cited above.

Walmart sees no future in its traditional cash and carry stores in the country and is currently downsizing.

 

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