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
Source: Gestion
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