Retail in Asia

In People

Alibaba freezes hiring as Ma says company needs to be efficient

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.