Chinese e-commerce giant to increase employee pay by 14 per cent over next two years


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Chinese e-commerce giant said it will increase employee salaries by an average of 14 per cent over the next two years in a show of financial strength at a time when many of its rivals are grappling with regulatory scrutiny. In a brief notice published on its public social media account on WeChat on Tuesday, the company said it will increase average employee annual salaries to the equivalent of 16-months pay by July 2023 from the current 14-months, representing a 14 per cent increase on average. The Beijing-based company counted about 370,000 total employees as of March, after adding...