Alibaba Limits Senior Exec Pay Hikes Amid Regulatory Crackdown: Reuters

April 30, 2021 2:43 PM | 1 min read | Make a Comment

Chinese e-commerce giant, Alibaba Group Holding Ltd BABA, has restricted 2021 senior executive salary hikes to offer bigger salary hikes to junior staff to motivate the workforce amid regulatory scrutiny, Reuters reports.
Alibaba’s management level executives received a yearly 5% to 10% pay hike along with stock incentives.
Jack Ma’s open criticism of the Chinese regulatory system followed an intense regulatory probe towards Alibaba.
An anti-monopoly probe penalized Alibaba with a $2.78 billion (18 billion yuan) fine for several years of market position abuse.
China, too, has initiated an intense regulatory crackdown on its tech companies, following the footsteps of the U.S. and Europe.
Price action: BABA shares traded lower by 0.93% at $232 on the last check Friday.