Another wave of layoffs in Wal-mart China.docVIP

Another wave of layoffs in Wal-mart China Though billed as its most pre- cious wealth by Wal-Mart Stores， Inc. on its website， employees in the retail giant have to face another wave of layoffs amid a stagnant retail industry in China. On Nov. 26th， a news about Wal- Mart would cut jobs in China went viral on the Internet， saying the new wave of lay-offs has begun since Nov. 25th， involving hundreds of upper- and midlevel executives. Dozens of executives in the Shenzhen-based headquarters of Wal- Mart China have been informed that they were being laid off as part of the company’s organizational restructuring， according to two sources familiar with the matter. Wal-Mart China confirmed that the company was in the course of an orga-nizational restructuring to streamline its businesses under the need of business development， but declined to give more details of the restructuring and provide an actual number of lay-offs. The company’s move to lay off its executives is likely to be for the sake of saving cost， in view of disappointing sales in its supermarkets and 1 Haodian in China， according to Ding Liguo， a senior expert in the retail industry. Among the three profit engines for Wal-Mart’s businesses in China， namely 1 Haodian， supermarkets and Sam’s Club， only the latter saw a rise in sales. Most of job cuts come from supermarket units Hundreds of upper- and mid-level executives face the bleak prospect of losing their jobs， most of which have worked for Wal-Mart for more than 15 years， according to a source. The wave of layoffs has caused wide public concern. An employee， who has worked for Wal-Mart for decades， said the layoffs were underway and the reason was an adjustment in the company rather than a shock from e-business. Another source， who served as director in a department of the headquarters， also confirmed the layoffs. “On Nov. 25th， the company sud- denly informed me that because of the organizational restructuring， my position was cancelled， without telling