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

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

James TaylorBy James TaylorMay 25, 2023Updated:May 25, 2023No Comments1 Min Read
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  • 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.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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James Taylor
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A writer and finance enthusiast who loves diving into the exciting world of stocks, commodities, forex, and crypto. I'm all about making the financial markets less intimidating and more accessible, so I write engaging content that simplifies complex concepts and shares practical investment strategies. Whether you're a seasoned investor or just getting started, I've got your back! But hey, life isn't all about work, right? On weekends, you'll find me hanging out and having a blast with my awesome friends and family. We love bonding over shared interests, trying out new adventures, and simply enjoying each other's company. Striking that balance between work and play is super important to me, because what's the point of success if you can't share it with the people you love? So, if you're up for some financial market insights and a good dose of weekend fun, stick around! Together, we'll navigate the money world and make the most of our time off. Let's learn, grow, and create memories along the way!

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