College students are increasingly paying less attention to Marxist values. (Photo : Reuters)
Chinese e-commerce giant Alibaba has recently announced that it will be cutting its campus recruitment quota as part of the company's change in "talent strategy."
Alibaba explained that the changes in the recruitment scheme is a result of the recent review it conducted in its businesses, citing that "it has more people than it needs."
The Hangzhou-based company said that the original goal of recruiting over 3,000 graduates in 2016 will shrink and those who will be accepted will be "have to face tougher competition."
Though Alibaba did not disclose a specific number, it said in an email to China Daily that it has already made 1,407 offers and hundreds are still underway.
Moreover, the leading e-commerce firm denied the speculations that it was eyeing to cut salaries offered to the fresh graduates to drive them away. It clarified that its salary package is based on the human resources market's supply-and-demand behavior.
For analysts, the changes are in line with the challenges Alibaba currently faces.
Wanqing Consultancy CEO and independent Internet expert Lu Zhenwang said that like other firms, Alibaba must be ready to face major hurdles if it wants to see the rapid development it has witnessed for the past years.
"Alibaba is expected to see growth in its new online shoppers peak by the end of 2015. Its future growth will need to come from the increase in online spending rather than growth in new users," he shared.
For the quarter ended June 30, Alibaba reported that it reached earnings of $3.27 billion, a 28-percent increase year-on-year. Nonetheless, the figure was of a slower rate than the previous statistic.
