As Amazon Founder and CEO Jeff Bezos begins his India visit this week, its arch rival Walmart India on Monday said it has asked 56 senior executives to leave as part of its corporate restructuring process, shrugging off reports about the second round of layoffs coming in April.
The company which operates nearly 28 wholesale stores in the country, said it is looking for ways to operate more efficiently, "which requires it to review its corporate structure to ensure that it is organized in the right way".
"A report appearing in the section of the Press speculating second round of layoffs in April is baseless and incorrect," Krish Iyer, President & CEO, Walmart India, said.
Walmart partnered Bharti in 2007 for its cash-and-carry business in India and went on its own in 2013. The world's largest retailer owns and operates 28 Best Price Modern Wholesale stores offering nearly 5,000 items.