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{"id":37181,"date":"2023-05-24T07:12:44","date_gmt":"2023-05-24T07:12:44","guid":{"rendered":"https:\/\/thepurbottar.in\/?p=37181"},"modified":"2023-05-24T07:12:46","modified_gmt":"2023-05-24T07:12:46","slug":"alibabas-cloud-unit-initiates-job-cuts-ahead-of-ipo","status":"publish","type":"post","link":"https:\/\/thepurbottar.in\/alibabas-cloud-unit-initiates-job-cuts-ahead-of-ipo\/","title":{"rendered":"Alibaba’s cloud unit initiates job cuts ahead of IPO"},"content":{"rendered":"\nIn the latest round of technology layoffs, Alibaba pruning is here. According to a report, Alibaba Group Holding Limited is going to lay off about 7 percent of its workforce earlier this week.<\/p>\n\n\n\n
According to a Bloomberg report, Alibaba’s layoffs are set to affect employees in the tech giant’s cloud division. These layoffs, if planned, will affect 7 percent of Alibaba’s total workforce.<\/p>\n\n\n\n
The report added that Alibaba’s layoff move forms part of a comprehensive restructuring strategy designed to position divisions for faster growth. The idea is to aim for an independent spinoff of categories, which could eventually become an initial public offering (IPO).<\/p>\n\n\n\n
While Alibaba’s layoffs affect about 7 percent of employees, many will leave without jobs. According to the report, the company has reportedly started informing and communicating with employees about the layoffs.<\/p>\n\n\n\n
However, Alibaba’s layoffs lead to a scenario where the company is either giving people the option of accepting a separation package or transferring to another department. But even the latter is only being given to a few.<\/p>\n\n\n\n
With the Alibaba layoffs, the company plans to streamline its cloud services business as the company looks to establish it as a standalone entity in the near future. However, it must be noted that the exact number of employees affected by these layoffs is not yet known.<\/p>\n","protected":false},"excerpt":{"rendered":"
In the latest round of technology layoffs, Alibaba pruning is here. According to a report, Alibaba Group Holding Limited is going to lay off about […]<\/p>\n","protected":false},"author":16,"featured_media":37183,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,10],"tags":[59],"yoast_head":"\n
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