Walmart sacks 56 people, including 8 top executives

New Delhi: World’s largest retailer Walmart Inc on Monday said it has sacked 56 of its executives in India, including eight from senior management level, as it restructures its business in the country. In a statement, Walmart India president and CEO Krish Iyer said the company “remains committed” to growing its wholesale retail business in India. Most of the sacking was in Walmart’s real estate division that is responsible for store expansion, implying the firm was facing challenges in expanding its wholesale business. Walmart operates 28 wholesale stores in India, selling goods to small shopkeepers but not to retail consumers because of government rules aimed at protecting kirana stores do not allow such sales. PTI