JD.com Prepares Big Pay Hikes Even as Chinese Consumption Gyrates

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Once China’s No. 2 online retailer by value, JD in recent years has ceded ground to newcomers. Photo: Bloomberg

(Bloomberg) — JD.com Inc. plans sweeping salary increases for its workforce next year, a major move for an e-commerce company struggling with intense competition and uncertain Chinese consumption in 2024.

JD, which like Alibaba Group Holding Ltd. is grappling with hard-charging rivals ByteDance Ltd. and PDD Holdings Inc., will nearly double the fixed salaries it pays to procurement, sales and other “front-line staff” starting Jan. 1. JD retail staff will get 20%-plus pay hikes on average, the company said in a one-line statement on its official WeChat account.