Walmart sacks 50 executives from real estate dept: report

Walmart Inc, the world's largest retailer, has fired around 50 of its India executives as part of its internal restructuring, according to reports. Walmart currently operates 28 wholesale stores in India where it sells goods to small shopkeepers, and not to retail consumers. The layoffs mostly affected executives in the company's real estate division. Reports quoting insiders say the layoffs are because focus is shifting to e-commerce rather than physical stores.