Walmart India sacks 56 senior executives, denies more layoffs

TIL Desk/Business/New Delhi/ As Amazon Founder and CEO Jeff Bezos begins his India visit this week, its arch rival Walmart India on Monday said it has asked 56 senior executives to leave as part of its corporate restructuring process, shrugging off reports about the second round of layoffs coming in April.

In a statement, the company which operates nearly 28 wholesale stores in the country, said it is looking for ways to operate more efficiently, “which requires it to review its corporate structure to ensure that it is organized in the right way”. “As part of this review, we have let go 56 of our associates across levels at the corporate office.

All of the 56 impacted associates (8 in the senior management and 48 in the middle/lower management) have been offered enhanced severance benefits and outplacement services to support their transition,” Krish Iyer, President & CEO, Walmart India, said in a statement.