In order to sustain ‘quick’ growth, the Chinese e-commerce giant has decided not hire people anymore. The CEO Jack Ma informed the press that the company won’t have any new openings in 2015 because it has grown too quickly. The CEO gave the speech containing these remarks to employees last week, but the speech went public through Laiwang, Alibaba’s own messaging app. In that particular speech, Ma informed about his intentions about not increasing the headcount of the company during current fiscal. Whenever one employee leaves, the company will hire another one, said Ma without telling plans for 2016 to the news agencies.
The number of employees was increased by 63 percent last year. Today the company employs around 34,000 people. Alibaba kick started many new ventures such as cloud computing, big data and logistics previously. This invited a new wave of employees to the company. The company is planning to gain access to domains other than e-commerce now. The internet of things is growing world over and the fad has reached China.
Alibaba wants a bigger share in this potential market and wants to invest in smart living products along with the automobile. The demand for automobiles is growing in China along with internet connected electrical equipment. The company reported 23.3 billion yuan profit last fiscal year. The CEO was disappointed with growth and he cancelled Lunar year bonuses to the employees. Ma’s long term plan is the focus and gain control on what Alibaba is doing right now rather than aiming for rapid growth.