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| Wal-Mart Plans Moves, Pay Cuts for China Staff |
| 2009-04-16 |
The changes will trim Wal-Mart's current five-tier management system, primarily by cutting jobs at the middle-manager level. The company said affected employees will be forced to relocate to other stores in neighboring areas or face reduced salaries.
Wal-Mart said the moves are meant to improve efficiency and maintain growth. "There are no layoffs," said Jonathan Dong, a spokesman for Wal-Mart in China. "If someone wants to go somewhere else [outside Wal-Mart], that is their decision," he said.
Despite the global financial crisis, Wal-Mart, the world's largest retailer, has continued to expand in China, one of its fastest growing markets. It has opened 23 stores in the country so far this year. Last year, it opened a total of 30 stores.
As of March 31, the company had 246 retail units in China, including Wal-Mart supercenters; bulk discounter Sam's Club stores; and Trust-Mart hypermarkets, a Taiwanese chain in which Wal-Mart took a 35% stake two years ago. Wal-Mart has more than 54,000 employees in China, not including workers at Trust-Mart. |
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