Wal-Mart cuts 250 jobs in China
Print Edition
WAL-MART yesterday confirmed it would cut about 250 jobs in China to “improve operation efficiency” as the US retailer moves to consolidate its network and cut costs.
The cuts, covering about 0.2 percent of its workforce in China, would mainly affect administrative staff at the Shenzhen headquarters and Dalian office whose administrative functions would be merged or consolidated with the Beijing office.
There would be five instead of six operation regions after the restructuring to “streamline business process and raise efficiency,” Wal-Mart said in a statement yesterday.
The company is set to have 31 new stores and distribution centers in China in 2014, with the opening of another nine new stores and a new distribution center in lower-tier cities by the end of this year.
“We’re committed to improve our business performance and further develop and invest in China,” Sean Clarke, president and CEO at Wal-Mart China, said in the statement.
Wal-Mart said it’s “on the right track” to accomplish these objectives.
There would be no change to existing stores in northeast China.
With over 400 outlets, China is now the second-largest market for Wal-Mart’s emerging market business.
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