Walmart India lays off 56 employees in corporate restructuring exercise

The employees laid off include those in real estate and sourcing, industry sources said, as Walmart increasingly focuses on its online operations in India

The world’s largest retailer Walmart has handed pink slips to 56 employees at its India corporate office located in Gurugram, it said on Monday, as slowing consumer spends force retail companies to rejig operations. The employees laid off included eight senior executives and 48 mid and junior executives, Walmart India’s President and Chief Executive Officer Krish Iyer said, representing 1 per cent of its total workforce of 5,391 people in the country.

“We are committed to growing our B2B cash and carry business in India. We opened six stores and one fulfilment centre in 2019 and our sales grew 22 per