Walmart Inc. is absorbing what remains of Jet.com staff into the rest of its operations, winding down the startup it bought for $3.3 billion three years ago while continuing to run the Jet.com website.
Walmart WMT, +0.82% said it isn’t planning to cut jobs and expects existing Jet employees to move to new roles within the retail giant. It declined to say how many employees currently work at Jet, an online seller of groceries, clothes and electronics, whose main offices are in Hoboken, N.J.
Soon after Walmart bought the startup, Jet executives, including founder Marc Lore, took over responsibility for all of Walmart’s U.S. e-commerce business. “We’re now merging the rest of our Jet teams,” including marketing, technology and analytics, Lore said in a company blog post Wednesday.
Last year, Jet relaunched as an e-commerce site focused primarily on New York and offering local goods, everyday items and groceries. Jet will focus on serving urban shoppers in areas where Walmart has few or no stores, including New York, said Lore.
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