Alibaba fires 40% of AliExpress employees in Russia over the war in Ukraine
The Russian-Chinese trading platform AliExpress Russia has laid off about 40% of its employees in Russia due to the fact that cross-border business has been disrupted due to the war in Ukraine, Nikkei reported on Friday.
According to a Nikkei source, the joint venture’s commercial unit suffered the most from the cuts. AliExpress Russia, a joint venture established by Alibaba and its Russian partners in 2019, carries out domestic and international transactions.
The company is dependent on cross-border sales for more than three-quarters of its business and is slower to benefit from the pandemic e-commerce boom as supply chains adjust to new travel restrictions.
He was also affected by the consequences of the Russian-Ukrainian war.
Source
reuters