A conspiracy to maximize profits.
Does not involve cash transactions, no shareholdings or restructurings, let alone acquisitions. The rumored that the “Shunfeng acquisition of Junjun Express” for several days has finally come to fruition.
On November 24th, Vipshop will announce the termination of its self-operated express delivery service from the end of November 2019. At the same time, it will reach a business cooperation with SF, and the package delivery service will be provided by SF Express. In short, Pinjun Express only handed the first-line distribution business to SF, and everything else has not changed.
Along with the cooperation between the two parties, some work and personnel arrangements have surfaced.
It is understood that on November 24th, all the products of Pinjun have been cleared, and at 12 o’clock on the evening of the 24th, the product system has been docked with SF. At the personnel level, after the package delivery service was provided by SF Express, the first-line delivery team of Pinjun Express will be dissolved. However, Vipshop will operate the seven major logistics centers nationwide, so warehouse personnel will retain them.
As of December 2018, Pinjun couriers exceeded 30,000. After the express delivery business was replaced by SF, the whereabouts of the 30,000 first-line couriers will be the biggest problem in front of Vipshop.
This Vipshop will indicate that the original site and courier of Pinjun Express will provide the resettlement options for the seven warehousing and logistics centers of the internal transfer Vipshop. The employees can also choose to join the SF Express team on a voluntary basis. The working age can be calculated continuously. If the product delivery courier does not accept the transfer or take the initiative to leave, Pinjun said that the economic compensation will be paid in strict accordance with the labor law.
The internal meeting minutes obtained showed that Pinjun had begun to negotiate with the employees to terminate the labor contract. On the 22nd and 23rd, the registration was completed, and the labor compensation was paid in accordance with the “N+1” method. However, I asked some of the products of the first-line distribution staff, they all said that they did not receive notice of follow-up compensation, “for the compensation, the expectations are not high.”
Tianshichao information shows that Pinjun Express was established in 2013 and is a direct-sale courier company wholly owned by Vipshop. Vipshop’s founder & CEO Shen Ya holds 65% of shares, and the other is only Vipshop. The founder Hong Xiaobo holds 35% of the shares.
As of December 2018, Pinjun Express has 31 provincial companies nationwide, and has established six logistics and warehousing centers in South China, North China, Southwest China, Central China, East China and Northeast China with a total area of over 2.9 million square meters. Meter. On August 15 this year, Pinjun Express announced that as of July this year, Pinjun Express has achieved 22 consecutive quarterly earnings.Growth is a great temptation for SF.
This cooperation with Pinjun Express will greatly ease SF’s order anxiety. The financial report shows that Q3 Pinjun’s average daily business volume is 1.74 million votes, a rough estimate, about 52.2 million votes a month, SF’s September business volume of 454 million votes, accounting for 11.5% of SF’s business volume. For SF, it is indeed a small amount of business.
One party only handed over the express delivery business in order to reduce costs, and the core logistics asset warehouse was reserved; one party only relied on the express delivery business to ease the order anxiety, and the cooperation between Pinjun Express and SF Express was how it looked like a game. Collusion to maximize profits.