-
Advertisement
Walmart
BusinessCompanies

Wal-Mart sacks senior executives on mainland and in Hong Kong

Wal-Mart Stores, the world's top retailer, has fired about 30 senior executives in China, including several in Hong Kong, amid a restructuring in Asia that includes store closures in Japan and management changes in India.

Reading Time:2 minutes
Why you can trust SCMP
Wal-Mart is encountering stiff competition in China. Photo: Reuters
Bloomberg

Wal-Mart Stores, the world's top retailer, has fired about 30 senior executives in China, including several in Hong Kong, amid a restructuring in Asia that includes store closures in Japan and management changes in India.

The departure of the executives, including directors and senior staff, was to streamline and simplify the business and was "consistent with actions taken over the last several months", said Ray Bracy, a spokesman for Wal-Mart in China.

A small number of the employees mutually agreed to leave, Bracy said.

Advertisement

The move comes amid a management shake-up in the US, where Wal-Mart announced the departure of the company's US merchandising chief on Tuesday. Wal-Mart also reappointed Scott Price as Asia chief this month as the retailer faces headwinds in its biggest markets in the region.

US-based Wal-Mart is encountering stiff competition in China and also dealing with food safety scandals such as fox DNA found in donkey meat. The retailer said in October last year it planned to add as many as 110 stores over three years in China, while shutting some outlets and remodelling dozens more as it overhauled its business.

Advertisement

Among the executives dismissed are vice-presidents from Wal-Mart China and Sam's Club China, according to two Wal-Mart China employees. Bracy declined to comment.

Advertisement
Select Voice
Choose your listening speed
Get through articles 2x faster
1.25x
250 WPM
Slow
Average
Fast
1.25x