Alibaba, whose head office in Hangzhou is seen here, shed 9,200 employees in the quarter to the end of June. Reuters file photo.
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.
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