- JD.com (NASDAQ:JD) will lay off 10% of its senior execs this year, according to Chinese online media outlet Sina Tech sources. JD has nearly 100 senior execs.
- The cuts were reportedly announced at JD's annual party last week.
- JD had a turbulent 2018 with November's earnings report showing the slowest revenue growth since the 2014 IPO and the U.S. arrest of CEO Richard Liu for rape. U.S. prosecutors later decided Liu wouldn't face charges.
- JD shares are down 1.3% pre-market.