Walmart lays off 200 corporate employees amid rising inflation
Business | Aug 04, 2022, 02:30 PM ISTWalmart news: The news of layoffs at Walmart came as after the company recently slashed its profit outlook due to inflation.
Walmart news: The news of layoffs at Walmart came as after the company recently slashed its profit outlook due to inflation.
After background verification, individuals will be able to onboard themselves for various roles, including delivery executives to start with, and service partners or technicians in the coming months, a statement said.
Through these new offerings, kiranas (neighbourhood mom-and-pop stores) can avail credit at zero cost through end-to-end digital onboarding in partnership with IDFC FIRST Bank and other fintech institutions, it added.
Walmart Inc owns a majority stake in Flipkart. It had invested USD 16 billion in 2018 in the Bengaluru-based e-commerce platform to pick up 77 per cent stake. In July last year, it led a USD 1.2-billion round in Flipkart, valuing the e-commerce firm at USD 24.9 billion.
The decision by Walmart came as India continues to witness a steep increase in the number of COVID-19 cases and deaths, crippling its health facilities, especially the supply of oxygen.
Walmart on Thursday announced that it will triple its exports of goods from India to $10 billion each year by 2027.
Walmart says it has removed ammunition and firearms from displays at its U.S. stores, citing "civil unrest" in some areas. The nation's largest retailer, based in Bentonville, Arkansas, sells firearms in about half of its 4,700 stores.
Walmart Inc. is in talks with Tata Group for an investment of up to $25 billion in the proposed "super app" of the salt-to-software conglomerate, the Mint newspaper reported on Tuesday, citing people familiar with the matter.
US President Donald Trump and some politicians have repeatedly expressed speculation that TikTok poses a national security threat to the country, though no evidence has been provided to support the allegations.
Walmart Foundation, the philanthropy arm of retail major Walmart, on Thursday announced two new grants, totalling USD 4.5 million (around Rs 33.16 crore) to help improve farmer livelihoods in India.
Ecommerce platform Flipkart on Thursday announced the acquisition of 100 per cent interest in Walmart India to leverage the strong wholesale capabilities of the company as it launched Flipkart Wholesale, a new digital marketplace designed to help transform the kirana retail ecosystem in the country.
Retail giant Walmart has made it mandatory for its customers across the US to wear face coverings starting July 20. The mandate on Wednesday came as the number of confirmed COVID-19 cases spiked in communities across the country recently
E-commerce giant Flipkart Group on Tuesday said it has closed a USD 1.2 billion funding led by Walmart, its majority stake owner. In 2018, Walmart Inc invested USD 16 billion for acquiring a 77 percent stake in the group.
Amazon Prime subscription is soon to get a rival in the form of a subscription service by Walmart
Sameer Aggarwal, who was elevated as Deputy CEO earlier in January this year, has now been promoted to Chief Executive Officer of Best Price, Walmart India, effective from April 1, Walmart said in a statement.
The National Company Law Appellate Tribunal (NCLAT) on Thursday dismissed a petition filed by traders' body CAIT against CCI nod to Walmart's USD 16-billion acquisition of Flipkart.
Walmart Inc has fired over 100 of its India executives as part of its restructuring in the country, a report in the Economic Times said. It is common knowledge that Walmart has been facing trouble expanding its wholesale business in India.
US retail major Walmart would open 25 institute hubs in India in next five years, which would train 50,000 entrepreneurs from the micro, small & medium enterprises (MSME) sector, said a top company official.
McMillon in a letter has assured the prime minister of Walmart's commitment to increasing global sourcing from India, empower small and medium enterprises and more job creation.
Walmart International President and CEO Judith McKenna on Friday reiterated the company's commitment to support India's smallholder farmers as she discussed steps suppliers can take to enter supply chains of global companies.
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