Alibaba freezes executive pay to raise increases of junior staff

Beijing —

Hundreds of top-tier executives at Alibaba are not entitled to salary hikes this year, unless they perform extraordinarily, four sources familiar with the matter said.The pay moves mark a departure from the usual for Alibaba, which has been the focal point of China’s months-long crackdown on the mainland’s big and powerful technology companies on worries about their market dominance and ability to sway public opinion.

Alibaba would not directly comment on the pay freeze for executives, but said: “Talent is Alibaba Group’s most important asset. We have a robust and competitive compensation system that reflects our priorities in cultivating our next generation of talents.”Alibaba’s Hong Kong-listed shares fell more than 2.5% on Friday, in line with a weak broader market.

The Alibaba business empire has come under intense scrutiny in China since billionaire founder Jack Ma’s stinging public criticism of the country’s regulatory system in October.

Tears grips my heart knowing how hard I've struggled to find a legit trader. I never wanted to do this but I'll be guilty if i don't share this good news to people to join the best trader have ever know. Thanks for helping me and i will forever be grateful to you Elliot_sykes_

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Court grants order freezing R1.4bn in assets of former Eskom and company executivesThe high court has granted the NPA's Investigating Directorate an order to freeze R1.4bn in assets belonging to former Eskom executives and former Tubular Construction Projects contractors. And there's only 1 white guy For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to him Blaketeddy56 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️ I did my research properly regarding Mr Bryan I must confess nobody handles business like you do i'm privileged to invest 7000 ZAR and I got my profit of 70,500 ZAR i'm really greatful everything was so real I would love to recommend him to everyone earn_with_bryan
Source: TimesLIVE - 🏆 28. / 59 Read more »

Majority of Rio Tinto shareholders reject executives’ pay packagesShareholders’ vote is advisory and will not impact the $55m earmarked in salary and bonuses for the company's top 14 executives
Source: BDliveSA - 🏆 12. / 63 Read more »

SABC says it's on the mend and has paid all staff salariesThe SABC on Sunday refuted allegations that it had failed to pay employees' April salaries and severance packages for staff who were retrenched in March. eNCA lite
Source: SowetanLIVE - 🏆 13. / 63 Read more »

Joburg Metrobus workers continue disruptions over 18% pay raise | The CitizenJoburg Metrobus on Monday said it was not in negotiations with the members of the Democratic Municipal and Allied Workers’ Union of SA (Demawusa). Unbelievable. The country is on its knees. Union bosses contributed to that and continue to do so.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Alarm raised over 'notable increases' in Gauteng's Covid-19 casesDepartment spokesperson Kwara Kekana said new cases had increased across the province, particularly in the Sedibeng district, compared to the week before. Ai'futhi A new wave of propaganda loading. Alooting continua loading. I stand with honesty and I always will promote honesty. LisateddyBTC You are indeed a honest person. Hey PEOPLE contact LisateddyBTC for a successful BITCOIN investment and trading, You will be PROUD you DID. Thank me later🕺🕺💼💰💵💡
Source: SowetanLIVE - 🏆 13. / 63 Read more »