Alibaba to hire 15,000 employees by the end of the year – Kommersant
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Alibaba Group said it plans to hire about 15,000 people by the end of the year. A Weibo post from the company says that “the six main business units will need to hire a total of 15,000 new employees,” 3,000 of which will be university graduates.
In addition, Alibaba called reports of mass layoffs “rumored”, noting that employee departures are part of the normal business process. This statement was made the day after Bloomberg, citing its own sources, reportedthat Alibaba is preparing to cut 7% of the staff (about 1 thousand people) of its cloud division.
In March Alibaba reported about the intention to restructure its business and split the group into six independent companies. Each division will have the opportunity to raise funds from third-party companies and conduct an IPO. The only exception is Taobao Tmall Commerce Group, which is responsible for Alibaba’s China trading business, which will remain 100% owned by Alibaba Group.
Reports of impending staff cuts emerged shortly after the publication of the unsuccessful financial results Alibaba. In fiscal 2023, the group’s revenue grew by 2% to 868.7 billion yuan ($126.5 billion), while net profit grew by 19% to 65.6 billion yuan ($9.6 billion). These results were worse than analysts’ forecasts.
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