Walmart China is looking to cut 250 jobs as it moves to restructure its operations across the People’s Republic, according to the Wall Street Journal (WSJ).
The news follows an announcement last week that 30 senior executives would be dismissed in China, including directors and managers at its Walmart retail stores and Sam’s Club wholesale operations.
Walmart China’s spokesperson Ray Bracy told WSJ that the company is sticking to its plans to open 480 stores in the country by 2016, and would also invest US$97.5m in a shopping mall in Zhuhai in China’s south – the first such move for Walmart globally, with plans to expand to three to five such malls in coming years.
The company posted a 0.8 per cent decrease in sales in China in the third quarter of this year.
