Traders say it took between Tk 18,000-23,000 to hire a truck from Benapole to Dhaka. But now, the price has gone up to Tk 28,000
Alibaba lays off 40% of AliExpress Russia staff amid Ukraine war: Nikkei
Alibaba Group Holding has laid off about 40% of the staff in its Russian joint venture as the ongoing Ukraine crisis disrupts cross-border business, the Nikkei reported on Friday.
Published : 13 May 2022, 05:30 PM
Updated : 13 May 2022, 05:30 PM
The Chinese e-commerce giant could not be immediately reached for comment.
Citing an employee with knowledge of the matter, the report said it was not clear if there would be more layoffs, after some of the laid-off staff chose to leave voluntarily and a few relocated.
The commercial division was hit the hardest, according to the report.
AliExpress Russia, a joint venture launched in 2019 by Alibaba and Russian partners, operates domestic and cross-border transactions.
The company depends on cross-border sales for more than three-quarters of its business and has been slower to benefit from a pandemic-led e-commerce boom as supply chains adjust to new travel curbs.
It has also been impacted by the fallout from the Russia-Ukraine war.
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