Consumer electronics retailer Gome Electrical Appliance and group-buying site Qianpin have each confirmed layoffs of about 200 workers, and several small fashion retailers closed their shops on Taobao Mall. The cuts came even as China's overall online retail sector continued its rapid rise; aggressive competition and promotions squeezed margins, forcing some to cut back, analysts said.

Full Story:
ZDNet (Asia)

Related Summaries