When it comes to the market share of online and mobile payments in China, Wechat Pay and Alipay are undisputed leaders in the market.According to reports done by Statista, 9 out of 10 online payment users paid using these payment providers in the last 12 months. In January, Baidu further downsized 10-15%, Chinese media reported. 10 most popular online and mobile payment providers in China.
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Baidu has also begun a series of layoffs, with the first round beginning in last December, affecting employees in the company’s gaming, streaming, education, and mobile environment sectors. Last week, Tencent was reported to be cutting 20% of its workforce. Alibaba has started to make major cuts in its local food and grocery delivery business this year. Since late last year, Alibaba, Baidu, ByteDance, Kuaishou, and Tencent have all begun to lay off people. JD’s 2021 financial reports noted that losses from new businesses, including Jingxi, expanded by 160% quarterly to RMB 3.2 million ($505,921) in Q4 of 2021.Ĭontext: JD joins a growing list of Chinese tech giants cutting staff to stay competitive in an economic slowdown. groundwork for Bachelets visit (South China Morning Post (SCMP), April 25. JD’s other core business units, like customer electronics and retail e-commerce, are largely safe from the cuts. The country has also been unable to pay for imports of essential commodities. 
The reported layoff is mainly focused on Jingxi Pinpin. Jingxi consists four main teams: Jingxi focuses on bargain deals, Jingxi Pinpin on community group buy, Jingxida on logistics, and Xintonglu on enterprise businesses.Details: JD’s layoff will affect at least 400 to 600 staff in the Jingxin unit, according to sources quoted by 36Kr.
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