In brief: JD said to target deep job cuts

• JD.com is preparing deep cuts to its workforce and rescinding some job offers as the Chinese ecommerce giant struggles to revive dwindling morale and rein in losses, people familiar with the matter said.
• The threat of firings has walloped morale and prompted many to explore employment elsewhere, according to the sources.
• JD’s latest move mirrors internal overhauls by Chinese tech firms Tencent and Didi Chuxing, which are coming off their once-breakneck pace of growth.

Source: Bloomberg