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Wal-Mart cuts 250 jobs in China in restructuring
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US retailer Wal-Mart said today it will cut about 250 jobs in China, mainly in its regional office in Dalian city to “improve operation efficiency” in a new move to consolidate its network and cut cost.
The job reduction would mainly focus on administrative positions at its headquarter in Shenzhen and former regional office in Dalian. The company would have five instead of six operation regions after the restructuring with an aim to “streamline business process and raise efficiency”, it said in a statement today.
At the same time, the company announced it would open 9 more new stores in China by the end of this year to drive growth from lower tier cities.
The new moves have brought the number of openings of new stores and logistics centers to 31 this year for Wal-Mart China.
“We’re committed to further develop our business and invest in China,” Sean Clarke, president and chief executive officer at Wal-Mart China, said in a statement today.
Last October, Wal-Mart announced it would speed up development in China in the next three years by opening 110 stores and distribution centers and creating 19,000 new jobs.
The company said it’s “on the right track” to accomplish these objects.
China is currently the second largest market for Wal-Mart’s emerging market business, and it has over 400 outlets in China.
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