JD.com reportedly preparing to sack up to 8% of workforce
JD.com is poised to unleash significant job cuts across its business with some departments due to lose up to half their staff.
According to Bloomberg, sources close to the matter cited an internal email which warned that the company was planning a dramatic reduction in headcount, seeing its total workforce potentially cut by eight per cent.
They added that some work contracts would be cancelled, and college graduates affected by the move would be compensated around $745 (£570).
READ MORE: JD.com launches AI-powered self checkout
This comes after three of JD.com’s most senior executives have announced their imminent departure of the last two months, including its chief technology officer Chen Zhang, its general council and chief human resources officer Rain Yu Long and chief public affairs officer Ye Lan.
Both JD.com’s recent strategy of changing its couriers pay structures and rumours of upcoming job losses are understood to have battered morale at the company.
Growing trade tensions with the US and a slowing Chinese economy have led to the reported upcoming job cuts, forcing JD.com to introduce harsh job cutting practices.
Staff are now under threat of being sacked if they exhibit arrogance, over spending on expenses, complacency, or fail to deliver on initiatives.