Alibaba Group Holding, a powerhouse in Chinese e-commerce, has recently dismissed circulating layoff rumors, announcing its intention to bring onboard 15,000 new hires this year. This comes amid speculation on Chinese social media platforms that Alibaba was poised to reduce its workforce by a considerable 20%.
In a statement released on Alibaba’s official Weibo account, the company confirmed that out of the 15,000 hires planned for this year, over 3,000 positions will be filled by recent graduates. Alibaba emphasized in its statement that “Talent movement is a common occurrence in all enterprises. At Alibaba, we’ve always had a dynamic inflow and outflow of talents.”
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The company’s hiring announcement comes on the heels of reports indicating that Alibaba Cloud, the cloud computing division of Alibaba, was letting go of about 1,000 employees, which represents roughly 7% of its workforce. This information was released by individuals familiar with the matter and subsequently reported by South China Morning Post, a newspaper owned by Alibaba.
In another strategic move, Alibaba has embarked on a significant restructuring plan, dividing itself into six distinct units. Each of these units will independently raise funds and potentially explore initial public offerings (IPOs). This monumental restructuring represents the largest reorganization for the Chinese e-commerce leader since its inception over two decades ago.
The six newly-formed units include the Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics, Global Digital Commerce Group, and the Digital Media and Entertainment Group. This article is based on a news report from Marketing Interactive.
