Axes 30 ex­ec­u­tives in China

The Star Early Edition - - BUSINESS REPORT/INTERNATIONAL -

WAL­MART Stores, the world’s largest re­tailer, had dis­missed about 30 se­nior ex­ec­u­tives in its China unit in an ef­fort to “stream­line and sim­plify” its business, it said yes­ter­day. The de­par­ture of the ex­ec­u­tives, in­clud­ing direc­tors and more se­nior staff, was “con­sis­tent with ac­tions taken over the last sev­eral months”, Wal­mart’s China spokesman Ray Bracy said. A small num­ber of the em­ploy­ees had mu­tu­ally agreed to leave the business, he added, with­out elab­o­rat­ing. The China move comes amid a man­age­ment shake-up in the US, where Wal­mart an­nounced the de­par­ture of its US mer­chan­dis­ing chief on Tues­day. The re­tailer has run into head­winds in China, where it faces stiff com­pe­ti­tion and food safety scan­dals.

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