The Asian company has reduced its payroll to 7.55%.
Alibabaa Chinese e-commerce giant, cut around 20,000 jobs in 2022, joining the trend of companies in the digital sector that have also made mass layoffs.
According to its income statement, which was submitted to the Hong Kong Stock Exchange on February 23, the group specified that its total number of employees dropped from 259,316 at the end of 2021 to 239,740 at the end of 2022. This represents a reduction payroll of 7.55%.
Along the same lines as other digital companies, before making layoffs in the context of global recession prospects, Alibaba had a strong recruitment campaign: only in 2021 it added more than 7,200 new workers, an increase of 2, 87%
However, Alibaba reported a 37.4% year-on-year drop, to about US$7.102 million, in net profit for its first nine fiscal months (April-December) after being affected by the ‘zero covid’ policies, the fall of demand and problems in supply chains.
Despite this, this drop is less than that experienced in its fiscal first half, when its profits plummeted 96% after posting losses of almost US$2.9 billion in its second quarter.
Source: Larepublica
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