Fintech

Alibaba to Rejig Operations Into Six Units to Lift its Mojo – SCMP

 

China’s biggest tech conglomerate, Alibaba, will reorganize its businesses into six “independently run entities to shorten its decision-making processes”, according to a report by the South China Morning Post (which is owned by the company), that quoted Alibaba chief executive Daniel Zhang as saying the move would not affect the company’s stock, which is listed in New York and Hong Kong.

The six new entities would be Cloud Intelligence Group, e-commerce under Taobao – TMall (which draws 70% of group revenue), Cainiao’s Smart Logistics Operations, Local Services group, Global Digital Business Group, and the Digital Media and Entertainment Group, according to the report, which said decisions on hiring and firing, research, profit and losses would be decided by heads of each business unit to enhance decision-making and enable faster responses to market changes, because the group’s size (with 200,000 employees) “severely restricted” its agility, responsiveness and capacity for innovation.

Read the full report: The SCMP.

 

ALSO SEE:

 

Jack Ma Returns to China in Sign of Easing Tech Crackdown

 

China’s Super Rich Hit by Tech Crackdowns, Covid Costs

 

China’s Ant Group Seen Facing $1bn-Plus Fine After Big Revamp

 

Ant Executives Sever Ties With Alibaba After China Crackdown

 

 

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.

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