China ride-hailing firm is axing jobs [CNN]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: CNN
Didi is axing jobs and could retreat from food delivery and bike sharing Executives at Didi Chuxing told staff members in Beijing on Friday that it plans to lay off about 2,000 employees and focus on its "core mobility business," according to a person familiar with the company's plans. The cuts are a striking change of gear for Didi, a $56 billion tech startup that forced Uber out of China and has expanded beyond its main business into areas such as food delivery and financial services. A Didi spokeswoman declined to comment on the matter. The rethink at Didi comes after two women using its carpooling service were murdered by their drivers last year. Didi indefinitely suspended the service after the second death. The killings sparked a fierce backlash. People took to Chinese social media to urge customers to boycott Didi, accusing it of ignoring safety concerns. Chinese regulators reportedly fined Didi executives an undisclosed amount of money and introduced tighter regulations for t
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Earnings
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Sec Filings
- 4/2/24 - Form 6-K
- 3/26/24 - Form 6-K
- 2/23/24 - Form 20-F/A
- BABA's page on the SEC website