Wal-Mart's new slogan, as introduced under the 'Truth in Advertising' standards.
Wal-Mart, the Universe’s biggest retailer, is setting its sights in Africa, after putting in a bid for South African discount chain Massmart.
Wal-Mart bought its first stores in Chile and India last year and is currently in negotiations to take over sub-Saharan Africa, with a £2.9bn bid for the Johannesburg-based retail chain. A deal would be the superstore’s first step into African waters, and would take the US chain into five continents.
Although popular with frugal shoppers, Wal-Mart’s cost-cutting methods come at a price, with the chain being criticised in the past for its ruthless approach to reducing prices, which includes slashing workers’ wages.
Speaking on behalf of America’s UFCW union, deputy organising director Michael Bride, warned that Massmart’s current employees could soon be experiencing this approach first hand:
“The company may very well adopt a policy of racing to the bottom in terms of wages and salaries and then denying workers a voice…In the US, Wal-Mart’s aggressive policies on salaries and benefits have led others in the industry to lower standards.”
Wal-Mart: Lowering Wages, Increasing Profit.
Source: Guardian
