- 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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