Alibaba Freezes Hiring as Ma Says Company Must Be Efficient
The Alibaba Group Holding Ltd exhibition space at the CeBit tech show in Hanover, Germany, on March 16, 2015.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Billionaire Jack Ma said he is freezing all hiring at Alibaba Group Holding Ltd. because the e-commerce company is expanding too quickly.
The hiring freeze also applies to some companies controlled by Alibaba, Ma said in a speech to employees. The current level of 30,000 workers should be enough to maintain operations, Ma said in a transcript posted to an official Alibaba account on the social-media application Laiwang.