On March 3, the “Alibaba public welfare List”, an internal award of Alibaba, was unveiled. The names of the winners and initiatives will be displayed on a Wall of Fame at Alibaba’s Hangzhou headquarters.
The large-scale layoffs happening at those leading companies indicates that the era of disorderly expansion, where the scale was traded for growth, is over. Internet giants need to focus on their core businesses to create long-term value in the future.