Alibaba Plans to Hire 15,000 New Employees Despite Reports of Downsizing

By James TaylorMay 25, 2023Updated:May 25, 2023No Comments1 Min Read

Alibaba Group Holding Limited (NYSE:BABA) has announced plans to hire an additional 15,000 employees for its six major business divisions.
The company is also looking to recruit 3,000 university graduates.
This announcement comes as a sharp contradiction to reports that the Chinese e-commerce giant was downsizing and looking to layoff employees.
Although the company did not deny employee departures, they referred to the reports as “rumors.”
Earlier this week, reports suggested that Alibaba will downsize its cloud division’s workforce by 7% as it prepares for a spinoff and eventual IPO.
In March, Alibaba revealed its plans to reorganize its businesses into six independently run entities and each of the business units can seek its initial public offerings (IPOs).
Alibaba continues to demonstrate plans for strategic growth despite any previous or current company changes.
Price Action: BABA shares traded lower by 3.20% at $78.60 on the last check Thursday.

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