40% of staff at Alibaba-led Russian joint venture laid off

41
1
40% of staff at Alibaba-led Russian joint venture laid off

According to Nikkei, about 40% of the staff at the Russian joint venture have been laid off because of the Ukraine crisis.

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

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.

It has also been impacted by the Russia-Ukraine war.