Now that Walmart has completed its acquisition of a majority stake in South African retailer Massmart a major competitor contends it will need to lay off 8.6% of its work force to improve its competitive position.
That’s according to South African media reports indicating rival Pick n Pay Stores said it was looking to eliminate 3,137 of its 36,673 positions. Conversely, Walmart has said it will create 15,000 jobs in South Africa within five years, implying a fairly robust level of expansion.