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WALMART IN AFRICA

WALMART IN AFRICA

The controversial world's largest retail giant, Walmart, is getting ready to set foot onto the continent of Africa for the first time. The chain's bid for another retail chain, Massmart, was approved by a South African tribunal. But that's not all. As expected, the retailer is receiving a large amount of resistance from trade unions and organizations that warn against job loss and wage cuts. The tribunal that approved the bid added the stipulation that Walmart must agree to not cut jobs for two years, work with local suppliers and give preference to 500 local employees that were fired last year. Let's see how that goes. Hopefully the continent and the retailer can uphold the terms necessary for mutual growth.

Walmart

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[via Guardian]

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