BEIJING, May 14 (Reuters) – Alibaba Group Holding Ltd. has cut about 40 percent of its Russian joint venture staff as the ongoing Russian-Ukrainian crisis affects cross-border business, people familiar with the matter said.
The commercial sector was the hardest hit by the layoffs, the people said. Some of the laid-off employees chose to leave voluntarily, and some chose to be transferred. It’s unclear if there will be more layoffs.
In 2019, Ali and Russian partners established a joint venture, AliExpress Russia, to operate domestic and cross-border transactions. Ali has yet to comment.
It is reported that AliExpress is one of the largest cross-border export B2C platforms in China, and it is also the number one e-commerce website in Russia and Spain. AliExpress is one of the e-commerce businesses of Alibaba Group, dedicated to serving small and medium-sized entrepreneurs around the world.
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