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Alibaba fired nearly 10,000 employees in over three months: Reports

In June quarter, the e-commerce firm had let go of over 9,241 employees and has trimmed its overall headcount to around 245,700.

Neha Singh

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New Delhi: Chinese e-commerce giant Alibaba Group Holding Ltd. has let go around 10,000 employees in over three months, reported several media.

This comes after Alibaba reported over 50 per cent drop in net income in the month of June. The company is in the process to cut expenses amid sluggish sales and a slowing economy in the country.

In June quarter, the e-commerce firm had let go of over 9,241 employees and has trimmed its overall headcount to around 245,700.

At the same period, the company reported a 50 per cent drop in the net income to 22.74 billion yuan (USD 3.4 billion), down from 45.14 billion yuan in the same period last year.

Alibaba was founded in 1999. In 2015, the company had gone through major reshuffle when Ma passed the baton as CEO to Daniel Zhang and further appointed him as Chairman in 2019.

China launches antitrust probe into Jack Ma's Alibaba over monopoly allegations

According to reports, in July, the Chinese e-commerce giant announced plans to apply for a primary listing in Hong Kong opening up the firm to a vast pool of mainland China investors for the first time.

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