Alibaba reduces its graduate recruitment quota

Alibaba's graduate recruitment quota has been reduced to help it grow

 The Chinese electronic commerce company Alibaba Group Holding limited has disappointed the student community. Alibaba news affirmed that the Jack headed enterprise has proclaimed a reduction in its campus recruitment quota. The firm had previously decided to hire more than 3000 fresh graduates next year. The online seller has told the press that it has already made 1407 offers and it is expected to provide job opportunities to another hundreds of applicants depending upon the test results of potential candidates. Commercial sources have reported that the quota has been cut down to 400 graduates.

AliBaba news today informed that the firm rejected the market speculation that it was proposing to lower down the salaries offered to applicants in an attempt to ensure that they are driven out. The Hangzhou based organization has stated that its remuneration package is based on demand and supply in the human resources market, and the overall salary policies are also considered. The firm’s hiring plans have been altered as it believes that it has hired more people then it requires.

AliBaba Breaking news exclaimed that the firm which in August proclaimed that it would repurchase shares worth $4,000,000,000 over the next 24 months to restore investor confidence stated it is still on a sound development track, but it has to reconsider its talent program in order to avoid becoming an overstaffed enterprise.

Experts stated that the alterations in the trading platform operating firm’s campus hiring plan are in the line with the problems it faces. An independent internet expert and official of Shanghai based Wanqing Consultancy believes that just like other high tech and internet firms in the People’s Republic of China, Alibaba faces major problems if it is interested in maintaining its rapid pace of growth it has successfully achieved in the past few years.

The changes in the firm’s talent programme have not come from anywhere. In a speech given in April, Alibaba’s founder and Chairman Jack Ma has stated that the firm has grown too rapidly, and its over 30,000 workers were sufficient. The firm posted that it has achieved slower than forecasted revenue growth of 28 percent in the year’s second quarter, lowering down from 45 percent in the first quarter as a declining economy has reduced consumer spending.

Industrial analysts believe the firm’s recent move would damage the firm’s reputation in the corporate world which is about to become a battleground for different organizations which are trying to safeguard their interests. It is probable that the altered plan would not be welcomed by the authorities of China.