JD.com Rebuts Layoff Rumors by Reporting Headcount Increase

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By Tang Ziyi / May 14, 2019 02:05 AM / Business & Tech

Photo: IC Photo

The struggling e-commerce company JD.com reported a headcount increase in the first quarter, delivering some good news in the face of swirling rumors of mass layoffs.

In an earnings report, JD.com said its total headcount increased by 1,000 year-on-year in the quarter. JD.com’s earlier move to dismiss 10% of its senior executives had set off reports of widespread terminations.

The reduction in the executive ranks was widely seen as a step to cut costs in the aftermath of the company’s market value tumble after founder Richard Liu was embroiled in a sexual assault scandal.

Huang Xuande, CFO of JD.com, accused media outlets of “over interpreting” the company’s annual reorganization in an earnings call Friday.

The report also noted that the average pay for staff in the company’s logistic unit increased 5% year-on-year. The company’s logistics arm earlier this year launched a controversial trial to eliminate the base salary of delivery drivers, forcing them to rely solely on performance-related pay.

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