trending Market Intelligence /marketintelligence/en/news-insights/trending/Cl4GK8VitjkkgcDhF2uUnQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Walmart India fires 56 execs as wholesale expansion struggles

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform

Walmart India fires 56 execs as wholesale expansion struggles

Walmart Inc.'s Indian arm cut 56 executive jobs, eight of which were senior management roles, as it struggles to expand its wholesale operations in the country, Reuters reported Jan. 13, citing President and CEO Krish Iyer.

"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," Iyer said.

The newswire reported that most of the employees that were let go were from the company's real estate division, which was in charge of the wholesale expansion that did not generate the growth anticipated.

One of three people familiar with the matter reportedly told Reuters that the job cuts were a result of Walmart India's shift to e-commerce from brick-and-mortar retailing.

However, Iyer denied that the big-box retailer was going to exit its physical store operations, adding that it has made "significant investments" in both its offline and online businesses.

Walmart operates 28 wholesale stores in India, through which it sells goods to small shopkeepers but not directly to consumers.