Alibaba lays off 40% of AliExpress Russia staff amid Ukraine war

A Nikkei report said it was not clear if there would be more layoffs, after some of the laid-off staff chose to leave voluntarily and a few relocated.

ETtech
Alibaba Group Holding has laid off about 40% of the staff in its Russian joint venture as the ongoing Ukraine crisis disrupts cross-border business, the Nikkei reported on Friday.

The Chinese e-commerce giant could not be immediately reached for comment.

Citing an employee with knowledge of the matter, the report said it was not clear if there would be more layoffs, after some of the laid-off staff chose to leave voluntarily and a few relocated.


The commercial division was hit the hardest, according to the report.

AliExpress Russia, a joint venture launched in 2019 by Alibaba and Russian partners, operates domestic and cross-border transactions.

The company depends on cross-border sales for more than three-quarters of its business and has been slower to benefit from a pandemic-led ecommerce boom as supply chains adjust to new travel curbs.
ADVERTISEMENT

It has also been impacted by the fallout from the Russia-Ukraine war.
Download
The Economic Times Business News App
for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App
for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
READ MORE
ADVERTISEMENT

READ MORE:

LOGIN & CLAIM

50 TIMESPOINTS

More from our Partners

Loading next story
Business News › Tech › Tech & Internet › Alibaba lays off 40% of AliExpress Russia staff amid Ukraine war
Text Size:AAA
Success
This article has been saved

*

+