• Tue. Feb 7th, 2023

Alibaba And Its Peers Resort To Freelancers To Contain Costs, Apart From Job Cuts – Alibaba Group Holding (NYSE:BABA)

ByAnusuya Lahiri

Nov 1, 2022
Alibaba And Its Peers Resort To Freelancers To Contain Costs, Apart From Job Cuts - Alibaba Group Holding (NYSE:BABA)

  • Alibaba Group Holding Limited BABA launched a part-time job platform called “Daraz Flex” overseas, Tech Planet reports.
  • Since the beginning of 2022, many Chinese internet giants like ByteDance LtdMeituan MPNGF MPNGY, and JD.com Inc JD launched new part-time job platforms in an attempt to reduce their operating costs further, Pandaily reported.
  • Significant companies can outsource marginal or superficial businesses at lower-cost labor prices, enabling people with free time to make money and also helping these companies to focus energy and resources on critical businesses.
  • Also Read: Alibaba Looks To Slash Workforce By 30% After Its MMC Division Decides To Lay off 20% Employees
  • Given the companies mentioned above, Tencent Holding Ltd TCEHYBaidu, Inc BIDU, and Pinduoduo Inc PDD, Chinese internet giants generally have their part-time crowdsourcing platforms. 
  • Before the upcoming Double 11 Shopping Festival, a Chinese e-commerce giant posted many part-time jobs on major recruitment platforms to share the work intensity and quickly complete some essential tasks. 
  • One HR worker at a leading Chinese internet company said that part-time jobs became an essential part of the employment of big factories. 
  • Many people can finish these jobs, especially some freelancers who also have skills that meet their part-time job requirements. 
  • On the other hand, part-time crowdsourcing has lower labor costs and risks than official employees. 
  • Alibaba has invested more than 100 billion yuan ($14.8 billion) in technological R&D annually, including AI, over the last four years
  • Alibaba’s efforts strive to reduce the intelligent R&D costs of small and medium-sized enterprises by more than 50%.
  • Price Action: BABA shares traded higher by 7.11% at $68.08 on the last check Tuesday.



Image and article originally from www.benzinga.com. Read the original article here.