Alibaba terminates job of nearly 10,000 employees

Alibaba has terminated job of nearly 10,000 employees to cut expenses amid sluggish sales and slowing economy in the country, South China Morning Post news report said. e-commerce salesMore than 9,241 employees left Hangzhou-based Alibaba during the June quarter, as the company trimmed its overall headcount to 245,700.

That put the total decrease in employee numbers for Alibaba, owner of the South China Morning Post, to 13,616 over the six months to June, marking the firm’s first drop in payroll size since March 2016, the report noted.

Alibaba reported a 50 percent 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.

Alibaba Chairman and CEO Daniel Zhang Yong said the company will add nearly 6,000 fresh university graduates to its headcount this year.