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Published 2 years ago

Alibaba mimics Amazon by slashing jobs after poor results

Summary by Ground News
Alibaba cut nearly 10,000 jobs, or around 3.8 percent of its workforce, in the second quarter of 2022. The tech giant's revenue took its first-ever quarterly dive, though the loss was smaller than analysts expected. Alibaba is currently focused on "high quality growth, improving operating efficiency, optimizing cost structure and maintaining strong cash flow"

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Alibaba mimics Amazon by slashing jobs after poor results

Covid lockdowns, Chinese regulations and SEC threats make Alibaba's job numbers worrying

2 years ago
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