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.
