Alibaba makes a U-turn on layoffs, says it will hire 15,000 people in 2023
Alibaba
Chinese e-commerce giant Alibaba on Thursday said it plans to hire 15,ooo people in 2023, surprising market watchers who expected the company to lay off employees amid the global economic slowdown.
According to a statement released on the Chinese social networking platform Weibo, Alibaba will hire 15,000 people across its six major business divisions. At least 3,000 of the new recruits will be fresh college graduates.
In announcing a hiring spree, the e-commerce giant has effectively dismissed reports of layoffs as "rumours". The company added that employee departures are a part of the "normal flow"
"We have never stopped recruiting and cultivating outstanding talents," media reports quoted Alibaba as saying.
The latest announcement comes days after reports suggested that it will layoff approximately 7 percent of its workforce in the cloud business division to streamline operations in anticipation of an initial public offering (IPO) in the future.
Earlier reports had suggested that Alibaba plans to adapt to regulatory changes in China to position its cloud service as a leader in the market.
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Last week, the Chinese behemoth had said that it intends to separate its cloud computing segment and make it an independent publicly traded company in the next 12 months.
In the recent quarter, Alibaba's cloud division reported revenue of 18.6 billion yuan ($2.69 billion), showing a 2 percent decline compared to the previous year. The company's focus on optimising its cloud operations is an indication that it wants to drive future growth and enhance profitability.