Alibaba has cut about 10,000 jobs for last 3 months


August 9, Fineko/ Chinese online retailer Alibaba laid off 9,200 people between April and June of this year. Thus, the company reduced a total of 245,700 employees.

ABC.AZ reports with reference to the foreign media that Alibaba links the drop in revenue with decrease in orders in AliExpress caused by changes in the VAT rules of the EU, the depreciation of the euro against the dollar, as well as ongoing disruptions in logistics chains due to the Russian-Ukrainian conflict. Total revenue decreased year-on-year for the first time in the company's history - from 205.7 bn yuans to 205.6 bn yuans.

Other large technology companies are doing the same today, reducing costs in the face of rising inflation, the cost of materials and political tensions, Bloomberg notes. In the 2nd quarter, the retailer's revenue from international trade showed a negative trend, declining by 3% year-on-year, to 10.2 bn yuans ($1.6 bn).