Walmart Inc., the Bentonville-based multinational hypermarket chain operator, world’s largest brick-and-mortar and online retailer, had fired 56 executives in India on Monday, the 13th of January 2020 which the world’s No.
1 retailer had branded as a part of its sweeping revamp in the South-east Asia’s biggest Economic HubSpot. In point of fact, Walmart Inc.’s latest move to fire 56 of its executives in India, eight of which were “senior management officials”, had signified the scale of challenges the US-based multinational retailer had been facing off to expand its wholesale business in India.
Besides, following a recent overhaul of the Indian anti-trust regulation for foreign wholesale and e-commerce retailers, the Arkansas retailer has been operating only 28 wholesale stores in the country, while the world’s No.
1 retailer does not sell goods to the retail consumers, instead surprisingly kept itself focused on only small shopkeepers. Aside from that, according to three sources close to Walmart Inc.’s Indian operation, the US retailer’s latest move had mostly hurt the executives in its real estate department, the wing that oversees its store expansions, since the retailer’s wholesale model in India had botched to proffer expected growth over the recent past.
Meanwhile, adding that the latest job slashes in Walmart’s executive roles had been aimed at a sweeping overhaul of its corporate structure, President and CEO of Walmart India, Krish Iyer said in a statement on Monday (January 13th), “We are also looking for ways to operate more efficiently, which requires us to review our corporate structure to ensure that we are organized in the right way,” while a Walmart official was quoted saying on condition of anonymity that the ousting took place because of Walmart India’s shift towards e-commerce instead physical (stores).