A Walmart shopping mall in Texas, the US in August, 2019.  Photo:Xinhua

Walmart has denied rumors that the company will cut 100 of its senior executives in India, saying the company will continue to invest in the growing market.

"Walmart remains committed to growing its B2B Cash & Carry business in India," said Krish Iyer, President and CEO of Walmart India. "We have recently made significant investments to serve our members better and will continue to do so, and this includes investments in our brick-and-mortar stores as well as e-commerce." 

The remarks came after some media reported that Walmart India is in the process of sacking about a third of its top executives based at local headquarters in Gurgaon, citing people aware of the development. 

"We have let go of 56 of our associates across levels at the corporate office. All of the 56 impacted associates have been offered enhanced severance benefits and outplacement services to support their transition. A report appearing in a section of the Press speculating a second round of layoffs in April is baseless and incorrect," Iyer said in a note sent to the Global Times on Tuesday. 

Walmart India opened six Best Price modern wholesale stores and one fulfillment center in 2019, and its sales grew 22 percent, Iyer said.