JD.com Inc. is preparing deep cuts to its workforce and rescinding some job offers as the Chinese e-commerce giant struggles to revive dwindling morale and rein in losses, people familiar with the matter said.
Alibaba Group Holding Ltd.’s closest rival told managers that it’s looking to reduce headcount across the company, cutting some teams by as much as half, one of the people said, citing an internal email. JD is reneging on some work contracts and offering impacted college graduates token compensation of 5,000 yuan ($745), the people said, asking not to be identified discussing a private matter. The Information earlier reported that, all told, JD could be slashing its workforce by as much as 8 percent.
