Walmart is shedding about 30 mid-level managers as its continues to revamp its China business, the Financial Times reported, citing a company executive.
Last year, the retail giant said it would close about 20 stores in China and pledged to add 110 outlets and 19,000 employees by 2016.
“We have reached mutual agreements for them to leave the business,” Ray Bracy said, adding that those affected were mostly local “mid-level” hires.
“We’ve been streamlining the business, reducing complexity,” Bracy was quoted as saying. “This is more of the same . . . It’s consistent with all of the things we have done in the past.”
As part of the restructuring, Walmart has reduced the number of its Chinese pork suppliers from several hundred to several dozen in a bid to increase the efficiency of its distribution system and tighten quality control, the newspaper said.
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