Jack Ma, the billionaire founder and chairman of Chinese e-commerce giant Alibaba, announced he will be hiring no more staff for the rest of the year.
In a company memo transmitted through Alibaba messaging app Laiwang and picked up by Reuters, Ma said the company had grown “too quickly”.
“Alibaba has really developed too quickly… this year our entire group headcount will not go up by one person. The purpose is simple: we need to get into formation.”
Ma concluded: “I think 30,000 people is efficient, when one leaves, we’ll bring one in.”
In 2014, Alibaba saw a 63 per cent increase in staff Read full story ›
Source: The Drum
Industry News