January 13, 2020 / 8:45 AM / a month ago

S.Africa's Massmart says in talks to close some stores, could cut 1,440 jobs

JOHANNESBURG, Jan 13 (Reuters) - South Africa’s Massmart Holdings, majority owned by U.S. retail giant Walmart , said on Monday it was in consultations with unions and other stakeholders to close up to 34 stores, which could lead to up to 1,440 job losses.

The potential closures are the result of a “store optimisation project that highlighted a number of underperforming stores”, Massmart, which swung to its first half-year trading loss in two decades last year, said in a statement. (Reporting by Emma Rumney; editing by Olivia Kumwenda-Mtambo)

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