🌏 Alibaba reduces stake in GoGoX amid stiff mainland competition.. Alibaba trims GoGoX stake to 8.89% (from 12.23%) amidst fierce mainland competition. GoGoX's continuous losses since 2018 and Alibaba's focus on Cainiao IPO reflect shifting strategies in the competitive logistics market. GoGoX's expansion in Asia contrasts with Alibaba's strategic divestment

🌏 Lazada launches layoff wave across Southeast Asia. Alibaba's Lazada executes staff cuts across Southeast Asia amid stiff competition and strategic overhaul. A somber chapter for regional e-commerce.