China's used car platform Renrenche looks to slash jobs by 60%, source says [Reuters]
JD.com, Inc. - American Depositary Shares (JD)
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Source: Reuters
China's used car platform Renrenche looks to slash jobs by 60%, source says - Reuters 2 Min Read BEIJING, June 24 (Reuters) - China’s online used car trading platform Renrenche aims to cut as much as 60 per cent of staff as it battles tight funding and fierce competition, a source familiar with the matter told Reuters on Monday. The move comes amid a slowdown in China’s tech sector that has led to caution among venture capitalists, underperforming IPOs and staff layoffs by companies such as JD.com. Renrenche, a startup backed by Tencent, Didi Chuxing and Goldman Sachs, is struggling to expand its business portfolio, said the source, who sought anonymity in the absence of authorisation to speak to the media. The source, who was briefed on the situation, also confirmed the authenticity of an internal e-mail signed by Renrenche’s founder, Li Jian, and circulated on Chinese social media last week, saying the company expected the restructuring would boost efficiency and speed decision-maki
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JD
News
- JD.com, Inc. (NASDAQ: JD) had its "equal weight" rating re-affirmed by analysts at Morgan Stanley. They now have a $27.00 price target on the stock.MarketBeat
- China Market Update: Markets Ignore Biden Tariff Talk, JD.com Buyback Update [Forbes]Forbes
- JD.com Announces Updates of Its Share Repurchase Program [Yahoo! Finance]Yahoo! Finance
- JD.com Announces Updates of Its Share Repurchase ProgramGlobeNewswire
- JD.com Files Its Annual Report on Form 20-FGlobeNewswire
JD
Earnings
- 3/6/24 - Beat
JD
Sec Filings
- 4/18/24 - Form 6-K
- 4/18/24 - Form 6-K
- 4/18/24 - Form 20-F
- JD's page on the SEC website