Wal-Mart to add 500,000 new jobs in next five years
05 Jun 2010
Wal-Mart Stores Inc said yesterday it would create 500,000 jobs around the world over the next five years as part of its strategy to transform the world's largest retailer into a more global company.
The company announced the plan while announcing a $15-billion share buyback programme in Fayetteville, Arkansas at its annual shareholder meeting attended by 16,000 people.
According to Wal-Mart Stores president and chief executive Mike Duke, the company needed to serve customers worldwide as a local store, make better use of its global supply chain and share its best practices.
Wal-Mart employs more than 2 million employees worldwide and is anticipating hiring at a fast pace internationally, in markets such as Mexico, Brazil and China where sales are increasing, Duke said.
According to Eduardo Castro-Wright, US stores chief hiring would depend partly on opening stores in urban markets.
"Just over the next five years, we'll create 500,000 jobs around the world. We need to recruit the best talent and identify the best talent in our ranks. Then we need to develop leaders and help them become global citizens," Duke said.