In an effort to reduce costs in the face of slowing sales and the nation's economy, Chinese digital company Alibaba has said farewell to roughly 10,000 staff, the media reported on Saturday. In order to reduce its entire workforce to 245,700, Hangzhou-based Alibaba reportedly let go of more than 9,241 employees during the June quarter, according to South China Morning Post. 200 corporate workers will be laid off by Walmart amid rising inflation. The South China Morning Post's owner, Alibaba, had a total fall in staff counts of 13,616 during the course of the six months ending in June, according
Chinese tech conglomerate Alibaba has bid goodbye to nearly 10,000 employees in an effort to cut expenses amid sluggish sales and slowing economy in the country, the media reported on Saturday.According to South China Morning Post, more than .
According to South China Morning Post, more than 9,241 employees left Hangzhou-based Alibaba during the June quarter, as the company trimmed its overall headcount to 245,700.
Alibaba reported a 50 per cent drop in net income to 22.74 billion yuan ($3.4 billion) in the June quarter, down from 45.14 billion yuan in the same period last year.