news 3 days ago

Walmart eliminates dedicated president role for Jet.com unit

The Associated Press — By ANNE D'INNOCENZIO - AP Retail Writer

NEW YORK (AP) — Walmart is eliminating the position of president at its Jet.com subsidiary, which it acquired in 2016, as it further merges the rest of its team with its namesake online operations.

As part of the changes, Jet.com's president, Simon Belsham will leave in August. Strategy and management of Jet.com will fall under Kieran Shanahan, who will continue to oversee food, consumables, health and wellness for Walmart.com.

Walmart said Wednesday that Jet.com will continue to operate, and there are no layoffs planned.

Walmart has been integrating much of Jet.com with Walmart.com since its $3 billion acquisition. Last year, Walmart repositioned Jet.com to focus more on urban shoppers. The acquisition has helped Walmart jumpstart its e-commerce business and has led to new offers like two-day free shipping and next day delivery.