Jet.com employees are moving to Walmart.com, and Jet president Simon Belsham will be stepping down in August, Walmart e-commerce CEO Marc Lore wrote in a blog post on Wednesday.

"Jet continues to be a very valuable brand to us, and it is playing a specific role in helping Walmart reach urban customers," Lore said.

The company is moving all Jet employees to Walmart.com, and in the process, Jet president Simon Belsham will be stepping down, Walmart e-commerce CEO Marc Lore wrote in a blog post on Wednesday.

"Jet continues to be a very valuable brand to us, and it is playing a specific role in helping Walmart reach urban customers," Lore, who also founded Jet.com, said in the post.

"The focus has largely been on NY so far, and we're looking at other cities where we might bring together Jet's expertise and the scale and operating model of Walmart.

Belsham will remain at the company through early August, Lore said.

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