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Alibaba sheds nearly 10,000 employees in June quarter as the e-commerce giant cuts costs amid sluggish sales, slowing economy

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Alibaba sheds nearly 10,000 employees in June quarter as the e-commerce giant cuts costs amid sluggish sales, slowing economy

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The reduced payroll reflects Alibaba’s renewed efforts to cut expenses and drive up efficiency, as the company faces a slowing economy in China.

Alibaba Group Holding’s reduced headcount in the June quarter shows the company’s resolve to cut expenses where it can.


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Article Details

Author / Journalist: Ann Cao

Category: Technology

Topics: Holding’s Shows Alibaba Reduced Headcount Resolve June Group Expenses Company’s Quarter

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-08-05, 23:00:15

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Reading Time: 1 minutes read

Article Length: 38 words

Coverage Area: Hong Kong

Availability: Desktop Web, Mobile Web

News ID: 114982

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Official Website: scmp.com

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Year Established: 1903

Headquarters: Hong Kong

News Last Updated: 13h ago

Coverage Areas: Hong Kong

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