Alibaba Shed 9,200 Employees in June Quarter – SCMP


Some 9,241 employees left Alibaba in the quarter to the end of June, reducing its total staff number fo 245,700, according to a report by the South China Morning Post (also owned by the e-commerce giant), in a move it said was part of “renewed efforts to cut expenses, drive up efficiency” amid continued regulatory pressure and a slowing economy.

On Thursday, the group reported a 50% drop in net income to 22.7 billion yuan ($3.4bn) for the June quarter on “flat” revenue of 205.6 billion yuan, but CEO Daniel Zhang Yong said the company planned to add nearly 6,000 fresh university graduates this year, the report said.

Read the full report: South China Morning Post.





SEC Adds Alibaba to List of Companies Facing Delisting


Alibaba Shares Jump on News of Dual Listing in Hong Kong


China’s Alibaba Unwinds Corporate Links With Ant Group


Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

Recent Posts

Tata Launches Budget $10k EV in Bid to Extend India Dominance

Tata leads India's EV market, helped by government subsidies and high tariffs on imports, but…

10 hours ago

Canberra Says Optus Should Pay for New Passports After Hack

Australian minister says Optus should replace passports for victims of a massive data breach, which…

11 hours ago

Investors Dump China Property Shares, Bonds as CIFI Defaults

CIFI's shares plunged over 32%. Investors were shaken by the sector crisis reaching CIFI, one…

14 hours ago

Meta Removes China Propaganda Aimed at US Midterms

Meta said it disrupted a China-based influence operation using Facebook and Instagram accounts with political…

15 hours ago

Asia Shares Slump as Fears of Global Recession Rise

Trading boards in Tokyo, Hong Kong and Shanghai were a sea of red again with…

15 hours ago

Toyota Teams up With BYD To Sell Electric Sedans in China

The bZ3 sedan will be the second model of Toyota's "Beyond Zero" collection," powered by…

16 hours ago