JD to sack 10% of its top executives

Chinese e-commerce giant JD will lay off 10 percent of its senior executives this year.

A logo of JD.com. [Photo: VCG]

The cuts were announced at the company's annual party last week.

Based on the current number of its employees, up to 100 senior executives will be laid off.

The company says it looks to maximize its resources and focus on strategic layout and the coordinated development of diversified businesses.

In November, JD reported its slowest quarterly revenue growth in the third quarter last year.

Its net revenue reached 105 billion yuan, a 25 percent increase year-on-year.