Walmart to lay off 150 employees in India as retail venture derails

Dec 16 2013, 14:09 IST
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Walmart India currently runs 20 Best Price Modern wholesale units in the country. (Reuters) Walmart India currently runs 20 Best Price Modern wholesale units in the country. (Reuters)
SummaryWalmart India is laying off around 100-150 senior to mid-level employees.

the multi-brand retail sector in India, the company is still undecided whether it would venture into the front-end retail segment with a new Indian partner.

In 2007, Walmart and Bharti Enterprises established a joint venture, Bharti Walmart, for wholesale cash-and-carry and back-end supply chain management operations in India selling a wide range of fruits and vegetables, groceries and staples, stationery, footwear, clothing, consumer durables and other general merchandise items.

After the break-up with Bharti, the company halted the expansion of its cash-and-carry stores in India until 2015.

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