Alibaba plans to cut up to 7% of its workforce — Bloomberg
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The cloud division of the Chinese Alibaba Group has started a series of layoffs, which may include up to 7% of the entire workforce, informed sources told Bloomberg.
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What is known
According to them, the company has already started to inform the employees who will be fired. Alibaba offers them a severance package or the opportunity to transfer to other divisions, although the transfer is not guaranteed, one of the agency’s interlocutors clarified.
The cuts are aimed at optimizing the cloud business, which Alibaba plans to spin off into a separate company within a year, one of Bloomberg’s sources emphasized.
Read: Alibaba traveled $32 billion in one day
Let’s remind
At the end of March, Alibaba Group announced the division of its business into six main divisions, which will independently attract funds and plan initial public offerings.
Each business group will have its own board of directors and in the future will have the opportunity to conduct independent financing and listing.
As a result, Alibaba Cloud Intelligence (cloud business), Taobao Tmall (online shopping division), International Digital Commerce (digital business division), Local Life (includes food delivery business), Cainiao (logistics) and Dawen Entertainment (digital media and entertainment).
Read: The founder of Alibaba, Jack Ma, is returning to China – SMI
The largest of the new businesses — Alibaba Cloud — will be headed by the current general director of Alibaba Group, Daniel Zhang. A few days ago, he reported that as a result of the reorganization, the Chinese technology giant will completely relinquish control over the Alibaba Cloud business.
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Source: Ministry of Finance
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