Online Retailer JD Cuts Managers' Pay as Xi Seeks 'Common Prosperity'

The video discusses JD.com's decision to cut salaries for top managers by 10-20%, affecting around 2000 people. The savings will fund a $1.4 billion employee benefits fund, with the founder contributing $14 million. The fund will offer interest-free home loans. This move aligns with China's common prosperity drive to reduce inequality. Other companies like Alibaba and Tencent are also participating. The tech sector faces cost cuts, with potential operational uncertainties into 2023.

What is the range of salary cuts JD.com is implementing for its top managers?

• 10% to 20%

• 5% to 15%

• 15% to 25%

• 20% to 30%

How much is the founder of JD.com contributing to the employee benefits fund?

• $10 million

• $16 million

• $12 million

• $14 million

What additional benefit will the employee benefits fund provide to JD.com staff?

• Retirement bonuses

• Education scholarships

• Free health insurance

• Interest-free home loans

What is the main goal of China's common prosperity drive?

• Expand international trade

• Distribute wealth more widely

• Enhance technological innovation

• Increase corporate profits

Which other companies are mentioned as participating in similar initiatives to JD.com?

• Xiaomi and Lenovo

• Baidu and Huawei

• Huawei and Baidu

• Alibaba and Tencent