Press "Enter" to skip to content

Alibaba Limits Senior Exec Pay Hikes Amid Regulatory Crackdown: Reuters

  • Chinese e-commerce giant, Alibaba Group Holding Ltd (NYSE: BABA), has restricted 2021 senior executive salary hikes to offer bigger salary hikes to junior staff to motivate the workforce amid regulatory scrutiny, Reuters reports.
  • Alibaba’s management level executives received a yearly 5% to 10% pay hike along with stock incentives.
  • Jack Ma’s open criticism of the Chinese regulatory system followed an intense regulatory probe towards Alibaba.
  • An anti-monopoly probe penalized Alibaba with a $2.78 billion (18 billion yuan) fine for several years of market position abuse.
  • China, too, has initiated an intense regulatory crackdown on its tech companies, following the footsteps of the U.S. and Europe.
  • Price action: BABA shares traded lower by 0.93% at $232 on the last check Friday.

This post was originally published on this site

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *