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Walmart has been cutting jobs over the past one year after it said last year that it expects 65% of its stores to be serviced by automation by the end of the fiscal year 2026

Walmart Layoffs: Walmart to cut hundreds of corporate jobs; asks employees to relocate: Report

Walmart to cut hundreds of corporate jobs; asks employees to relocate: Report

<h2>Walmart has been cutting jobs over the past one year after it said last year that it expects 65% of its stores to be serviced by automation by the end of the fiscal year 2026</h2>

Retail firm Walmart is cutting hundreds of corporate jobs even as it asked most of its remote workers to return to office, reported Wall Street Journal. As per the report, the firm is also asking&nbsp; workers in three tech hubs to relocate.&nbsp;
Employees from smaller offices in Dallas, Atlanta, and Toronto are being requested to transition to larger hubs like Walmart's corporate headquarters in Bentonville, Arkansas. The report added that Walmart would let the staff work remotely part time as long as they are in offices for most of the time.
Walmart Layoffs 2024
Walmart has been cutting jobs over the past one year. This after it said last year that it expects 65% of its stores to be serviced by automation by the end of the fiscal year 2026. The firm has also shut three of US technology hubs in February 2023 and asked hundreds of its workers to relocate to keep their jobs. It was another move that pushed a lot of employees to report from the office.&nbsp; As of January 31, 2024, Walmart employed approximately 2.1 million associates.&nbsp;
As per Business Insider, Walmart will close a Bay Area store in May as well as a Neighborhood Market in Milwaukee bringing the confirmed closures in 2024 to eight. Following the closure of &nbsp;four stores in California, one in Maryland and one in Ohio the layoff notices were filed with the state of Wisconsin and California
Also watch: <a href="https://www.editorji.com/business-news/flipkart-plans-to-layoff-1-000-employees-in-annual-restructuring-1706190157044">Flipkart plans to layoff 1,000 employees in annual restructuring</a>

The remaining $400 million will be contributed by internal stakeholders and select external investors

Walmart invests $600 million in Flipkart

<h2>The remaining $400 million will be contributed by internal stakeholders and select external investors</h2>

Flipkart, a leading e-commerce player, announced a substantial investment from its largest shareholder, Walmart, amounting to $600 million as part of a $1 billion fundraising initiative. The remaining $400 million will be contributed by internal stakeholders and select external investors.
The influx of funds aims to fuel Flipkart's expansion efforts, strengthen its supply chain, and enhance its technological capabilities. Notably, this investment isn't positioned as a pre-IPO round, hinting at potential future fundraising activities in the coming year.
Sources within the industry revealed that the ongoing funding round values Flipkart at a premium of approximately 5-10% compared to its previous valuation, which stood around $35 billion.
Walmart's increasing stake in Flipkart surpassed 80% following the acquisition of residual shares from early investors such as Tiger Global Management, Accel, and co-founder Binny Bansal. In specific transactions, Tiger Global and Accel divested their remaining stakes to Walmart, reaping substantial gains totaling billions of dollars. Co-founder Binny Bansal also sold his remaining stake, garnering considerable returns from the sale.
Prior to these transactions, Walmart had initially acquired a 77% stake in Flipkart for $16 billion in May 2018, later adjusting it to 75%. The recent acquisitions from key stakeholders further solidified Walmart's position in the company.
Accel, an early investor in Flipkart, had gradually reduced its stake from over 20% to about 6% before Walmart's majority acquisition in 2018. Post-acquisition, Accel retained a minor stake, which was subsequently sold. Meanwhile, Sachin Bansal, another co-founder, sold his entire stake to Walmart in 2018, while Binny Bansal maintained a small share until July of this year, when he divested it.
The continuous investment and ownership shifts highlight the evolving landscape of Flipkart's ownership structure and the significant role played by key investors in shaping its trajectory.

Walmart to lay off 1,000 employees in Texas, 600 in Pennsylvania, 400 in Florida, about 200 in New Jersey

Walmart to eliminate over 2,000 jobs in e-commerce warehouses

Walmart to lay off 1,000 employees in Texas, 600 in Pennsylvania, 400 in Florida, about 200 in New Jersey

According to a regulatory filing, Walmart Inc.'s job cuts at 5 U.S. e-commerce warehouse centres will affect more than 2,000 positions. However, the company has said that the employees will be allowed to apply for other roles in the company.
The losses include more than 1,000 positions at a warehouse in Fort Worth, Texas, the state&rsquo;s workforce commission said. A reduction of almost 600 jobs is anticipated in Pennsylvania fulfillment center, 400 in Florida and about 200 in New Jersey. California might also see an additional reduction in workforce.
According to Bloomberg, the regulatory filings add precision to the staffing cuts at the Walmart warehouses, which the company confirmed last month without quantifying.&nbsp;
Meanwhile, a spokesperson has told Bloomberg that Walmart is expanding in certain areas as it adjusts its stores and fulfillment centers to handle more online orders. This may allow the company to reshuffle the employees rather than letting them go.
Hence, the net impact on the total employment is uncertain. So far, Walmart has avoided mass layoffs that are underway at its rival Amazon, which said last month it would eliminate a further 9,000 jobs in addition to 18,000 recent cuts.
&nbsp;

Flipkart has cashed in $3.6 billion in fresh funding from promoter Walmart and a clutch of global investors that has taken the e-commerce giants' valuation to $37.6 billion. In 2018 Walmart&nbsp;acquired 77% stake in Flipkart&nbsp;at $16 billion valuing the company at $20.8 billion.&nbsp;
The fund raising marks the return of SoftBank as a shareholder of Flipkart. SoftBank had taken the exit from the startup when the Bangalore-based firm sold majority stakes to Walmart in 2018.&nbsp;

Walmart backed Flipkart valued at $37.6 billion as it raises $3.6 billion from investors

SoftBank returns to shop at Flipkart, Walmart backed fund raising values ecommerce giant at $37.6 billion

Flipkart valued at $37.6 billion as it raises $3.6 billion marking the return of SoftBank 

Walmart&nbsp;joins&nbsp;Antara, SoftBank&nbsp;and other investors in latest fund raising.&nbsp;

Flipkart has cashed in $3.6 billion in fresh funding from promoter Walmart and a clutch of global investors that has taken the e-commerce giants' valuation to $37.6 billion. In 2018 Walmart&nbsp;acquired 77% stake in Flipkart&nbsp;at $16 billion valuing the company at $20.8 billion.&nbsp;
ALSO WATCH:&nbsp;<a href="https://www.edtr.ai/9tw2" target="_blank">Startup Digest: Latest from Pharmeasy, MobiKwik IPO, DoSelect Powerplay</a>
The fund raising marks the return of SoftBank as a shareholder of Flipkart. SoftBank had taken the exit from the startup when the Bangalore-based firm sold majority stakes to Walmart in 2018.&nbsp;

Reports indicate that Walmart&nbsp;backed e-tailer&nbsp;Flipkart is in talks with investors to raise over $1 billion even as it plans a US listing.&nbsp;
Economic Times reports JPMorgan and Goldman Sachs are advisors in the fundraiser that are exploring options with many&nbsp;sovereign wealth funds, technology-focussed financial groups and even pension funds.&nbsp;
As per available data&nbsp;Walmart invested $1.2 billion in Flipkart in July 2020 at a $24.56 billion valuation, experts see this round of fund raising to value Flipkart&nbsp;at $28-30 billion.&nbsp;

Flipkart shops for investors, looking to raise $1 billion

Reports indicate that Walmart&nbsp;backed e-tailer&nbsp;Flipkart is in talks with investors to raise over $1 billion even as it plans a US listing.&nbsp;

<ul>
<li>Flipkart&nbsp;looking to raise $1 billion from fresh investors&nbsp;</li>
<li>JPMorgan, Goldman advisors on fund raising for Flipkart</li>
<li>Flipkart&nbsp;may seek $28-30 billion valuation in fund raising&nbsp;</li>
<li>Walmart invested $1 bn in July 2020 to raise stake in Flipkart</li>
</ul>

Reports indicate that Walmart&nbsp;backed e-tailer&nbsp;Flipkart is in talks with investors to raise over $1 billion even as it plans a US listing.&nbsp;
Economic Times reports JPMorgan and Goldman Sachs are advisors in the fundraiser that are exploring options with many&nbsp;sovereign wealth funds, technology-focussed financial groups and even pension funds.&nbsp;
As per available data&nbsp;Walmart invested $1.2 billion in Flipkart in July 2020 at a $24.56 billion valuation, experts see this round of fund raising to value Flipkart&nbsp;at $28-30 billion.&nbsp;

&nbsp;Walmart backed Flipkart may be looking at a one-way ticket to buying a controlling stake in&nbsp;Cleartrip&nbsp;sources have told moneycontrol.com.&nbsp;&nbsp;
Flipkart is looking at expanding its services and wants to leverage as a&nbsp;superapp&nbsp;as per reports.&nbsp;Cleartrip&nbsp;has seen pressure on&nbsp;it&rsquo;s&nbsp;books as airline travel continues to be under pressure due to the pandemic.&nbsp;&nbsp;&nbsp;Both Flipkart and&nbsp;Cleartrip&nbsp;have not denied/confirmed the talks.&nbsp;

Flipkart in talks to buy Cleartrip: Reports

&nbsp;Walmart backed Flipkart may be looking at a one-way ticket to buying a controlling stake in&nbsp;Cleartrip&nbsp;sources have told moneycontrol.com.&nbsp;&nbsp;
 Flipkart is looking at expanding its services and wants to leverage as a&nbsp;superapp&nbsp;as per reports.&nbsp;Cleartrip&nbsp;has seen pressure on&nbsp;it&rsquo;s&nbsp;books as airline travel continues to be under pressure due to the pandemic.&nbsp;&nbsp; &nbsp; Both Flipkart and&nbsp;Cleartrip&nbsp;have not denied/confirmed the talks.&nbsp;

&nbsp;Walmart backed Flipkart may be looking at a one-way ticket to buying a controlling stake in&nbsp;Cleartrip&nbsp;sources have told moneycontrol.com.&nbsp;&nbsp;
 Flipkart is looking at expanding its services and wants to leverage as a&nbsp;superapp&nbsp;as per reports.&nbsp;Cleartrip&nbsp;has seen pressure on&nbsp;it&rsquo;s&nbsp;books as airline travel continues to be under pressure due to the pandemic.&nbsp;&nbsp; &nbsp; Both Flipkart and&nbsp;Cleartrip&nbsp;have not denied/confirmed the talks.&nbsp;

Flipkart to buy 7.8% stake in Aditya Birla Fashion & Retail

Flipkart will buy 7.8% stake in Aditya Birla Fashion &amp; Retail Limited for ₹1,500 crore

Flipkart to buy 7.8% stake in Aditya Birla Fashion &amp; Retail Ltd
₹1,500 crore&nbsp;deal will raise&nbsp;equity capital at ₹205/share
Aditya Birla Fashion runs brands like Pantaloons, Allen Solly
Reports said both Flipkart&nbsp;&amp; Amazon were in talks for the deal
Aditya Birla Group: endorsement of India's growth potential
&nbsp;

Walmart-owned Flipkart will buy 7.8% stake in Aditya Birla Fashion &amp; Retail Limited for ₹1,500 crore. Aditya Birla Fashion &amp; Retail runs brands like Pantaloons, Allen Solly, and Peter England.&nbsp;In a press release, Aditya Birla Fashion &amp; Retail Limited said the equity capital will be raised at ₹205 per share.
According to&nbsp;a report in the Economic Times, Flipkart and Amazon had both held separate talks with Aditya Birla Fashion &amp; Retail for a potential investment on Thursday&nbsp;but Flipkart&nbsp;managed to bag a stake in the fashion business.
Commenting on the deal, Kumar Mangalam Birla, Chairman of the&nbsp;Aditya Birla Group, said, the partnership is an emphatic endorsement of the growth potential of India.

US: court relief for TikTok against Trump ban

In a relief for TikTok in the US and a blow to the government, a federal judge has temporarily blocked Trump's ban on the video sharing app

In a relief for TikTok in the US and a blow to the government, a federal judge has temporarily blocked Trump's ban on the video sharing app. A district judge granted a preliminary injunction against the ban on TikTok after an unusual Sunday morning hearing. The judge, however, refused to grant an injunction against a November deadline for its sale. ByteDance is fighting the Trump administration in court even as it pursues its approval for the sale of a stake in the US business to Oracle and Walmart. Trump has called for bans on both TikTok and WeChat.

walmart

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