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Walmart reviews Jet and reveals his president will go down

Walmart monitors Jet.com.

The company moves all Jet employees to Walmart.com, and in the process, jet president Simon Belsham will go down, Walmart wrote e-commerce manager Marc Lore in a blog post on Wednesday.

"Jet continues to be a very valuable brand for us and it plays a special role in helping Walmart reach city customers," Lore, who also founded Jet.com, said in the post. "The focus has to a large extent been on NY so far, and we are looking at other cities where we can collect Jet's expertise and scale and operating model of Walmart. More to come upon it."

Belsham will remain in the company through early August, Lore said. There will be no layoffs and the Jet headquarters in Hoboken, New Jersey, will stay, told a Walmart spokesman CNBC.

Walmart bought Jet 201

6 in a $ 3.3 billion deal. It just happened as Walmart ran out of its e-commerce initiatives to better fight against Amazon.

One year later, 2017, Jet focused his business on serving city millennials in cities where Walmart did not have a large presence, like New York.

Read more: How Walmart turned his purchase on JetCard $ 3.3 billion to his biggest weapon against Amazon

It gave the brand the opportunity to exist as a way to reach those customers without channeling Sales at Walmart .com, which were – and still are – see explosive growth.

At that time, Jet then announced President Liza Landsman, Business Insider, that Walmart thought it important to "let Jet be Jet".

Times have changed, as Jet's sales and traffic declined by 60% in March 2018 compared to the previous year, according to a report by Bloomberg last year.

At the end of 2018, Jet launched its website and collaborated with coveted brands such as Nike, and presented a grocery store program in New York City, run by a Bronx warehouse.

"Really, the whole news broadcast and business start is just the beginning of our direction for Jet and broader than we think of when we want to take care of retail and e-commerce," says Belsham Business Insider at the time.

"E-commerce today will not be e-commerce in the future, and this is the start of how Jet can fit into it. "

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