Chinese e-commerce company JD.com has been restructuring recently and in its latest round, Jingxi Business Group will be merged into the JD Retail division as reported by 36Kr.
Employees will be streamlined from the subdivisions Jingxitong, Jingxi, and Jingxi Pinpin under Jingxi Business Group before being integrated into JD Retail.
Key Highlights
- It is added that the restructuring of Jingxi Business Group will be in stages, with business being optimised accordingly.
- As of now, Jingxi Pinpin, which used to operate in 20 provinces, is only retained in Zhengzhou and Beijing.
- Even divisions such as JD Health, JD Industry, and JD Retail could be "optimised" if there is no sign of profitability or at a substantial loss according to a source familiar with the matter.
- Meanwhile, JD.com reported the slowest growth ever in the '618' shopping event due to the pandemic lockdowns and slowing economic conditions.
- The 618 event is China's second largest shopping festival after Singles Day in November.
