Chinese technology company Alibaba cut almost 20,000 jobs in 2022

The giant Chinese of electronic commerce Alibaba joined the global digital sector trend in 2022 and cut almost 20,000 jobs throughout 2022.

In its income statement -sent last night to the Hong Kong Stock Exchange, where it is listed-, 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, which means a reduction in staff of 7.55%.

Like other leading digital companies at home and abroad, before embarking on these layoffs amid the global recessionary outlook, Alibaba had embarked on a recruitment campaign: specifically, in 2021 it added more than 7,200 new employees, an increase of 2.87%.

Affected by the ‘zero COVID’, the fall in demand or the problems in the supply chains, Alibaba reported this Thursday a 37.4% year-on-year drop in net profit for its first nine fiscal months (April-December) to about 7,102 million dollars.

Despite this, the drop is significantly lower than that experienced in its first fiscal semester, when its profits plummeted 96% after registering losses of almost 2.9 billion dollars in its second quarter.

Source: EFE