Wal-Mart cuts mid-level jobs in China
Wal-Mart Stores Inc said it has cut more than 20 mid-level jobs in China as part of its effort to lower costs in the world's second largest economy where it has been grappling with slower sales and tough price competition. Raymond Bracy, China-based spokesman for Wal-Mart, said the staff cuts were a "necessary business reality", adding the retailer would pay appropriate settlements to the employees affected. Wal-Mart, which has more than 400 stores in China, says it employs around 2 million people worldwide.
Wal-Mart Stores Inc said it has cut more than 20 mid-level jobs in China as part of its effort to lower costs in the world's second largest economy where it has been grappling with slower sales and tough price competition. Raymond Bracy, China-based spokesman for Wal-Mart, said the staff cuts were a "necessary business reality", adding the retailer would pay appropriate settlements to the employees affected. Wal-Mart, which has more than 400 stores in China, says it employs around 2 million people worldwide.
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