Wal-Mart has admitted some jobs will be lost from its business in India as the US retail giant plots its growth in the market alone.
A report in India’s Financial Express claimed Wal-Mart was letting go of 100-150 “senior- to mid-level employees” in the wake of the end of its venture with local conglomerate Bharti Enterprises.
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Wal-Mart has also put plans for more stores in India on hold as it shores up how it applies for new outlets in the wake of bribery allegations last year.
When contacted by just-food, Wal-Mart refused to confirm the precise number of positions affected but did admit some staff would lose their jobs.
“Given the evolution of our business profile in India, some difficult decisions have to be made that include letting go of some of our talent. We will assist our associates through this transition with the appropriate resources,” a spokesperson for Wal-Mart’s business in India said today (17 December).
In October, Wal-Mart announced it would buy out Bharti Enterprises from their Bharti Walmart venture.
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By GlobalDataWal-Mart has taken on their Best Price Modern Wholesale cash-and-carry business. Bharti, meanwhile, has kept its Easyday retail stores across all formats, for which Wal-Mart has provided supply chain and management support.
As Wal-Mart adjusts to life as an independent player in India, the retailer, which insists it remains committed to the Indian market, has put its expansion plans in the country on hold. Bribery allegations hit the Bharti Walmart venture last year and Wal-Mart wants to ensure applications for new store locations meet local regulations.
