Wal-Mart Prepares For China Expansion
by March 27, 2006 12:00 am 60 views
Wal-Mart Stores Inc. plans to hire 150,000 people in China over the next five years as it prepares for a major store expansion. Wal-Mart currently has about 30,000 employees in China.
Joe Hatfield, CEO of Wal-Mart Asia, told the Reuters news agency that the Bentonville-based company plans to open 20 stores in China this year.
Wal-Mart currently has 56 stores in China, which means it is trailing France’s Carrefour, which had 78 stores in China at the end of 2005.
Reuters reported that Wal-Mart’s sales in China didn’t rank the retailer in the top 30 on the Ministry of Commerce list of the biggest retailers in China, released in February.
Hatfield said he has asked Wal-Mart to set up a university degree program in China to train future employees to work in jobs ranging from master baker to accountant.
Wal-Mart opened its first store in China in 1996.