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Wal-Mart revises China restructuring plan: state media
Beijing (AFP) April 24, 2009 Wal-Mart, the world's largest retailer, on Friday said it has revised a planned overhaul of its China-based management after intervention by government-run trade unions. On April 10, US-based Wal-Mart said it needed to slash mid-level executives in an effort to adapt to "the changeable market situation." Under the restructuring plan, affected employees are encouraged to move to other locations or face demotion or dismissal, earlier Chinese media reports said. However, the US retail giant seems to have softened its position after negotiating with employees, trade unions and local governments following a wave of staff complaints seen in domestic media reports. "We've adjusted some implementation plans," said Jonathan Dong, Wal-Mart spokesman in Beijing, told AFP. For example, employees unwilling to relocate to other locations will not have their pay cut despite changes in their posts, he said. Wang Tongxin, vice-chairman of the Federation of Trade Unions in Shenzhen, the southern city where Wal-Mart's Chinese headquarters is located, welcomed the revisions as "a win-win situation", according to Friday's China Daily. "After talks with the employee representatives, Wal-Mart has taken the concerns of the employees and made big revisions to its plan," Wang was quoted by the newspaper as saying. "It's understandable that a company adopts a restructuring plan at an adverse time, but the decision must be achieved after negotiation with the employees, rather than a one-sided order," he said. The federation, which received reports from trade unions representing Wal-Mart workers on April 11, estimated the restructuring would affect around 2,000 employees across China, according to the newspaper. Wal-Mart entered China in 1996 and employs more than 50,000 people in 147 outlets in the country. The retailer only allows trade unions to operate in its China stores. The US discount titan's global net income fell to 3.79 billion dollars in the three months ended January 31, a 7.7 percent drop from 4.01 billion dollars a year earlier. It did not release China-specific figures. But Dong said the net income earned in China last year was "better" than that in 2007. Share This Article With Planet Earth
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