Fliggy's layoffs were due to poor financial performance, economic headwinds and the need for restructuring, company insiders say
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Fliggy has been cutting jobs across several departments since June, reflecting mounting pressure on the Alibaba-owned online travel platform as it struggles to enhance presence in a market dominated by Trip.com Group Ltd.
CEO Eddie Wu said the restructuring ‘marks a strategic upgrade from an e-commerce platform to a comprehensive consumer platform’.
The tech giant reported a 75% drop in net income in the second quarter on revenue of 269 billion yuan, up 9% year-on-year
The Chinese tech company denies large-scale layoffs, calling the moves normal team adjustments
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