Important Update: Layoffs at Alibaba

Jacky sent the following email to Alibaba employees earlier today. Greetings, AliBuddies! Due to an unfortunate turn of events, we are unfortunately forced to lay off 15% of our workforce. This was a difficult decision to make, but it was necessary in order to secure our future success and ensure the continued health of our company. The decision was based on the need to shift our focus towards a more passive income business model. In order to ensure that we are able to survive and thrive in this ever-changing digital landscape, we must focus on more reliable income streams to ensure our long-term success. While this decision was not easy to make, it was necessary for the survival of Alibaba. Unfortunately, the decision had to be made by someone, and the blame for this action rests squarely on my shoulders. I take full responsibility for this decision, and I am deeply sorry that it had to be made. I understand that this is a difficult time for everyone and know that many of you have questions or concerns. Please do not hesitate to reach out to your manager or HR representative if you have any questions. Thank you for your understanding and your continued dedication to Alibaba. Best, Jacky 'Money' Ma