JD.com reportedly laying off 10% top management staff

Chinese e-commerce giant JD.com is reportedly laying off 10% of its management staff this year. According to the South China Morning Post, JD.com will use a "rank and yank" approach to identify and remove the least productive staff that rank at vice-president level and above. Asked if there will be further job reductions in the near future, a company spokesperson said, "JD.com highly values its workforce. We are actively promoting the empowerment of staff at all levels, with the aim of maximising resources to provide equal opportunities for qualified talent and to ensure quality growth of the business in the future." The spokesperson reiterated that the company hoped that management staff will take on more responsibility and make better use of available resources. JD.com is not the only tech company to reduce positions as of late. Earlier this year it was reported that Didi Cuxing was planning to cut loose 2,000 staff - 15% of its entire workforce - following the company taking a massive loss of RMB10.9 billion in 2018. According to contemporary reports, the drop in profits largely stemmed from the company's subsidies to its drivers, which reached RMB11.3 billion last year.