Alibaba Said "No" Raises for Presidents in 2009

Alibaba Group chairman Jack Ma told staff in an internal email on Monday that senior management including vice presidents would not receive raises in 2009, reports Sina. However, the company has sufficient cash, and the majority of staff would receive pay increases and "pretty good" annual bonuses in 2009, said Ma. "We believe that company resources should flow towards the general staff in times of crisis, and a sense of urgency should be felt first among senior executives," Ma wrote.