Alibaba Group Holding has laid off around 40% of staff at its Russian joint venture as the ongoing crisis in Ukraine disrupts cross-border business, the Nikkei reported on Friday.
Citing an employee with knowledge of the matter, the report said it was unclear whether there would be further layoffs, after some laid off staff chose to leave voluntarily and a few were relocated.
The commercial division was the hardest hit, according to the report.
AliExpress Russia, a joint venture launched in 2019 by Alibaba and Russian partners, operates domestic and cross-border transactions.
The company depends on cross-border sales for more than three-quarters of its business and has been slower to benefit from a pandemic-driven e-commerce boom as supply chains adjust to new travel restrictions.
It was also affected by the fallout from the Russian-Ukrainian war.
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