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Walmart Looking to Close Store Units and Cut Jobs in Brazil in 2016

12/25/2015 - 10h47

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FROM SÃO PAULO

Walmart is looking to close some stores and decrease the number of employees in 2016. The units that will be closed and the size of the cuts have yet to be determined. The ones with the worst performance in 2015 should be selected.

A decision should be reached by the end of January.

The plan, revealed by the economy newspaper "Valor" on Wednesday (23), is part of a global restructuring of the chain, which was proposed by its global president Doug McMillon in October. Beyond the store closings, the project involves business unit reviews.

In Brazil, Walmart has 544 stores, 200 pharmacies, 50 restaurants and 10 gas stations in 18 states and the country's capital, in addition to its electronics business. The group also works with Big, Bompreço, Mercadorama, Todo Dia, Maxxi Atacado and Sam's Club brands. Revenue reached US$ 7.4 billion in 2014.

Adjusting for inflation, store sales shrunk by 1.6 percent from January to November compared to the same period in 2014.

Walmart has been restructuring its Brazilian operations since 2013, when it closed 25 stores in the country. This year, the chain opened four units in the northeast of the country.

When reached for comment, Walmart merely shared that it is reviewing operations in the country. "We are constantly reviewing our portfolio and making decisions based on what is best for the business and our clients."

Translated by SUGHEY RAMIREZ

Read the article in the original language

Saul Loeb/AFP
Walmart, the third largest big box group in Brazil, is looking to close some stores and decrease the number of employees in 2016
Walmart, the third largest big box group in Brazil, is looking to close some stores and decrease the number of employees in 2016

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