Category: Consumer

Wal-Mart is to restructure its management system in China which may result in 1,400 staff – 2.5% of its total workforce in the country – relocating or getting pay cuts, the Wall Street Journal reported. The US is retailer is altering its five-tier management system, primarily by cutting jobs at middle-manager level. “There are no […]

The chief executive of US leather goods and accessories brand Coach said the firm is likely to boost its development plans in China, the Financial Times reported. Speaking at the end of a visit to China, Lew Frankfort said, “I am leaving this trip with a view that our numbers might be conservative . . . We see sophisticated […]

China’s dairy industry needs government help to survive the fallout from last year’s contaminated milk scandal, state media reported. Wang Dingmian, a director of the Dairy Association of China, told state media that the industry has at least 250,000 tons of overstocked milk powder, compared to “near zero” before the scandal broke last September. The […]

Tsingtao Brewery saw its 2008 net profit jump 30% year-on-year to US$102 million despite slowing sales growth, Bloomberg reported. The company’s revenue came in at US$2.3 billion, up 17%, but the actual volume of beer sold rose by just 6.6% from 2007, reaching 5.38 million kiloliters. Beer consumption is seen as a casualty of the […]

American appliance maker Whirlpool announced that it would be closing its washing machine factory in Shanghai, Dow Jones Newswires reported. The closure of the factory would eliminate 600 jobs. Production is to be transferred to Whirlpool’s joint venture factory with Chinese manufacturer Hisense in Zhejiang province, which is expected to create 900 new jobs by […]