Walmart Lays Off 56 Executives in India

New Delhi, January 13, 2020:

Walmart, world’s largest retailer, has laid off around 56 of its executives in India citing restructuring plans. Eight executives from the Senior Management Board have also been fired by Walmart.

The retailer decided to rearrange its teams following its struggles to expand in the wholesale segment in India. In India, the layoffs were mainly in the real estate sector as the growth in the wholesale model had not been strong.

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It may be mentioned here that all the 56 executives have been offered enhanced severance benefits and outplacement services to support their transition.

The layoff of India workforce comes at a time when the US-based retail major has faced fierce competition in the country's retail market, where tight regulations are aimed at protecting local kirana stores from foreign competition.

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Krish Iyer, president and CEO of Walmart’s India unit, said that the layoffs at Walmart’s India operations were due to a greater incorporation of technology into its local operations and a bigger focus on integrating e-commerce with its brick-and-mortar wholesale business.

Speaking on the recent report of a possible layoff in April, Iyer said that the second round of layoffs in April was baseless.

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