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Business

Wal-Mart to sack more managers in China

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Wal-Mart operates more than 400 stores in China.   © Reuters

SHANGHAI -- Wal-Mart Stores will trim the workforce of its Chinese unit by around 250, mostly management staff, beefing up an earlier plan to let roughly 20 managers go.

     The U.S. retail giant said that store workers will not be dismissed. The cuts, which represent 0.2% of Wal-Mart's workforce in China, will occur at key locations, including the headquarters in Shenzhen.

     The company will also close its office in Dalian, one of its six regional offices in China. This location's operations will be handled by another covering the Beijing region.

     Wal-Mart entered the Chinese market in 1996. It operated more than 400 stores in about 170 cities across the country as of April 30.

     Business conditions have become more severe for China's retail industry due to the growing popularity of online shopping and an economic slowdown. Despite this, Wal-Mart has been continuing to invest in expansion. This year, it opened about 25 stores and spent 550 million yuan ($89 million) to renovate roughly 50 existing ones. It hopes the personnel cuts help boost profitability by improving management efficiency.

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