Alibaba Group Plans to Hire In Mass Amidst Rumours of Layoffs

[Edited] Alibaba Group Holding Ltd has announced its plans to hire 15,000 people this year, refuting recent rumors circulating on Chinese social media that the company intended to cut 20% of its workforce.

Credits: Getty Images

The announcement came in response to speculation about potential layoffs.

In a post on Alibaba's official Weibo account, the company clarified that among the 15,000 new hires, over 3,000 would be newly-graduated students. Alibaba emphasized that talent movement is a normal practice for enterprises, with employees coming and going as part of regular operations.

While the company is actively expanding its workforce, it is worth noting that Alibaba's cloud unit has initiated a downsizing process. This downsizing is expected to affect approximately 7% of the staff as the company streamlines its business operations in preparation for an IPO.

Alibaba's cloud unit has been a significant part of its business, providing cloud computing services to a wide range of clients. The downsizing is seen as a strategic move to optimize operations and ensure efficiency as the company prepares for its upcoming IPO.

Alibaba's decision to hire 15,000 people this year demonstrates its commitment to continued growth and investment in talent. The company remains a major player in the e-commerce and technology sectors, and this hiring initiative is expected to support its expansion plans.

---

- Alibaba Group Holding Ltd plans to hire 15,000 people this year, refuting rumors of layoffs.

- Over 3,000 of the new hires will be newly-graduated students.

- Alibaba emphasizes that talent movement is a normal practice for enterprises.

Source: REUTERS