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Walmart cuts a third of India executives, plans more

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Retail company sees no future in its physical operations in the country. FMTNews Walmart

HONG KONG: Walmart Inc is preparing to wind up its physical presence in India and has fired a third of its top executives there, said a local media report.

The executives already sacked include vice-presidents across sourcing, agri-business and fast-moving consumer goods, and the real estate team responsible for finding new store locations has been disbanded, said the report. The brick-and-mortar exit comes after a decade of struggle in India, whose government has repeatedly stymied global consumer brands in order to protect local store-owners.

 

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