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Walmart India Fires More Than 50 Executives

By John F. Heerdink, Jr.

Walmart Stores, Inc. (WMT) is a worldwide retailer that operates in various formats. The three segments of the company include Walmart U.S., Walmart International, and Sam’s Club. The company is comprised of discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, apparel stores, drug stores, convenience stores, and membership-only warehouse clubs; and retail Websites.

Reportedly, Walmart has fired 56 executives in India as a part of its restructuring process in the country. The Bentonville, Arkansas-based company has been facing challenges to expand its wholesale business in India. Walmart operates 28 wholesale stores in the Asian country. As per sources, the firings have mostly affected executives in its real estate division, managing store expansion. Eight out of 56 executives were fired in a “senior management” role and the remaining from the middle or lower management, informed Krish Iyer, President, and CEO of Walmart India.

Iyer stated “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,” adding the fired executives had been offered enhanced severance benefits.

“We have recently made significant investments to serve our members better and will continue to do so. This includes investments in our brick-and-mortar stores as well as e-commerce,” Iyer added.

To learn more about Walmart (WMT) and to continue to track its progress please visit the Vista Partners Walmart Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Walmart sacks 56 executives in India as part of restructuring in Reuters)


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