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Ukraine war

Alibaba's Russian venture slashes 40% of staff amid Ukraine war

AliExpress had planned to expand in its biggest market as recently as March

AliExpress Russia's business has been disrupted by Moscow's invasion of Ukraine.    © Reuters

HONG KONG -- Chinese e-commerce giant Alibaba Group Holding's joint venture in Russia has laid off about 40% of employees since the invasion of Ukraine as the war has severely disrupted cross-border business, an employee with knowledge of the matter told Nikkei Asia.

AliExpress Russia, a joint venture in which Alibaba holds about a 48% stake, was the most-visited online marketplace and the most-downloaded shopping app in Russia last year, according to its website.

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