Walmart India is going to lay off jobs of more than 100 people at risk

Walmart India is going to remove one-third of the top executives associated with the business of its stores. The layoffs will be done from the company's headquarters in Gurugram. Walmart bought Flipkart, one of the country's top e-commerce companies, in 2018.

More than 100 officers will be laid off
The company does not see a future in cash-and-carry businesses in India. Walmart has informed about layoffs of more than 100 senior executives from Agri Business and the FMCG division, including vice presidents.



This is the company's plan
According to the Economic Times news, Walmart also plans to close the Fulfillment Center in Mumbai, the company's largest warehouse in the country. Also, the company will not open new stores in the country. The company is taking this step because the company has not made any profit in India. It has been nearly 10 years since Walmart started business in India, but the company's growth has been slow.

Walmart spokesman gave statement
However, the company has not commented on retrenchment of officials and not opening new stores. A Walmart spokesperson for the company said, 'We always find ways to work more efficiently. It requires a review of the corporate structure, to ensure that we are on the right track to meet the needs of our customers. '

Layoffs may occur again in april
Not only this, there may be more layoffs in the company this year. In this context, the source said, 'This is the first round of layoffs and we are expected to do so again by April. Walmart does not see any future in offline cash-and-carry business in India. Therefore, the company has two options: going out of business or merging.

So much loss
In the last financial year, Walmart India had sales of Rs 4,095 crore and a net loss of Rs 171.6 crore. Explain that as of March 2019, the loss of the best price stores of Walmart India was Rs 2,180.8 crore.

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