Billionaire Jack Ma said he is freezing all hiring at Alibaba Group Holding 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, Mr Ma said in a transcript posted to an official Alibaba account on the social-media application Laiwang.
Alibaba, which is Asia’s largest internet company, processes more than 11 billion orders a year from 334 million active buyers. Mr Ma, who has ambitions to service more than 2 billion consumers by 2019, said Alibaba would only hire a new employee when a current one quits.
(Source: The Business Times)