With the break up of Bharti and Wal-Mart’s joint venture in the cash-and-carry space, the future seems uncertain for Bharti Walmart’s 4,000 employees, a Financial Express report said.
According to the report, each ‘Best Price Modern Wholesale’ store opened under partnership of Wal-Mart with Bharti employed around 200 people and also provided indirect employment for a similar number of people. The report quoted a consultant with a global audit and consultancy firm as saying, “The locations of a lot of these stores were kept near Bharti’s ‘easyday’ stores as the front-end store sourced 25% of its goods from the cash-and-carry venture, but now whether Wal-Mart feels it will be feasible to continue with those locations remains to be seen.”
The report adds that although, Wal-Mart has indicated it will continue to invest and expand its cash-and-carry business in India while seeking interested partners for a front-end venture, industry consultants say there could be some store closures or relocations.
Read the complete report here