News > Alibaba cuts 10,000 jobs to cut costs amid falling sales
Alibaba cuts 10,000 jobs to cut costs amid falling sales
Gadgets Now | 06/08/2022 06:37 PM | Click to read full article
Chinese tech conglomerate Alibaba has bid goodbye to nearly 10,000 employees in an effort to cut expenses amid sluggish sales and a slowing economy in the country, the media reported on Saturday.
Alibaba reported a 50% 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.