Wal-Mart plans to increase the number of employees by as much as 36% in the next five years, but U.S. workers may be out of luck as the increase will fuel the retailer's International expansion.
Wal-Mart Executive Vice President of human resources Susan Chambers told conference attendees in New Delhi: "The opportunity for growth is not just in India but global," as reported by Bloomberg News. Wal-Mart operates in India through a joint venture called Bharti Wal-Mart Pvt. Ltd.
Wal-Mart plans to have 3 million workers in five years, up from 2.2 million now, Chambers said. The jobs will added throughout Wal-Mart's worldwide network, as the chain looks for growth beyond our borders.
Because if it seems like this country couldn't find room for another Wal-Mart store, you're not too far off. When it comes to store growth, the world's largest retailer is focused elsewhere in the world. There are plans to expand into South Africa, with the a bid last week to buy that nation's Massmart chain for $4 billion (the deal is pending approval). Countries like China and India represent huge growth opportunities and rumors of Wal-Mart entering Russia continue to build.
Overseas sales for the world's largest listed company by revenue have grown 91% in the last five years to $100.1 billion, almost triple the pace in the U.S., according Bloomberg.
What are stocks? Learn how to start investing.View Course »