Walmart Fires 56 Indian Employees
The world famous retail giant Walmart has gored 56 of its employees due to major losses.
Walmart is a famous USA retail company that is all over the world. 10 years ago they came to India and now they have more than 5,000 employees in India.
In Gurugram they have their Head office where more than 600 people In a major shocker, Walmart Inc., the largest retailer in the world, has decided to fire 56 employees in Gurugram to leave the company.
This includes 8 senior management executives.These employees were part of the company's real estate division responsible for establishing new stores. Walmart has said that they are doing this because they want to make changes in management of the company.
However its been 10 years since Walmart came to India, but they still are making a big loss. This is why people are saying they are firing people. Walmart currently operates 28 wholesale stores in India to sell to shopkeepers, not retail consumers.The company will probably slow down the opening of new wholesale stores and try to boost sales through online sales.
Walmart could lay off more employees in April.