Alibaba's cloud arm may slash 7% staff in overhaul

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BloombergLast Updated: May 24, 2023, 12:09 AM IST

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China's largest cloud service has begun offering severance to employees or transfers to other parts of the Alibaba empire, a source said. The moves are intended to streamline the business, which Alibaba aims to fully carve out into a separate company within a year, the person said.

Alibaba approves cloud computing unit spin-off, prepares for grocery and logistics arms to go public

Alibaba Group's cloud division has begun a round of job cuts that could reduce its staff by about 7%, part of an overhaul aimed at preparing the once fast-growing unit for a spinoff and eventual IPO.

China's largest cloud service has begun offering severance to employees or transfers to other parts of the Alibaba empire, a source said. The moves are intended to streamline the business, which Alibaba aims to fully carve out into a separate company within a year, the person said.

Alibaba Cloud is one of the biggest companies that will be created in a six-way split of the parent, joining other units in pursuing independent fundraising and potential listings.

Tuesday, 23 May, 2023

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