JollyChic in trouble?

We wrote about JollyChic’s C+ round a few months ago – and today a screenshot has been shared widely across the cross border ecommerce circle in China.

The note, allegedly sent from JollyChic’s top management, reads:

“Dear JollyChic-ers, 

To maximise the effectiveness of our costs, I decided to put a hold on all business travel, effective now and until end of Q1 2020. 

All business travel must stop, unless you have obtained my personal approval in our internal automation system. For countries where the automation system is not live yet, my email approval is mandatory. 

All those travel arrangements approved before this notice, please review the necessity. I do believe you will make the right decision. 

Also, we are stopping all team building activities until end of Q1 2020. 

More importantly, I regret to tell all of you that because our 2019 performance has not reached the expectations of the shareholders, we need to take emergency measures: 

• All staff, including senior management, will not receive any year end bonus – no exception;
• Aside from those who received A or A+ in performance review, nobody will get pay rise. This applies to the entire senior management as well. 

Some times we face difficult circumstances. I believe we can weather through this period together, because we are made to fight for excellence.”