• Alibaba Group Holding Limited (NYSE: BABA) shared plans to rent 15,000 folks in 2023, sharply contradicting stories of its layoff plans.

• The Chinese e-commerce platform voiced a requirement of 15,000 recruits for its six main enterprise divisions.

• The firm stated it could recruit 3,000 college graduates.

• Also Read: Navigating Alibaba’s Bumpy Road: Analyst Holds Positive, Adjusts Price Target Downward

• Alibaba snubbed stories of layoffs as “rumors” and stated worker departures are a part of the “normal flow.”

• Alibaba pointed to its recruiting system as proof that the corporate remains to be hiring.

• Earlier this week, stories steered Alibaba’s plans to downsize its cloud division’s workforce by 7% because it ready for a derivative and eventual IPO.

• In March, Alibaba disclosed plans to reorganize its companies into six independently run entities: Cloud Intelligence Group, e-commerce beneath Taobao-Tmall, Cainiao’s good logistics operations, Local Services group, Global Digital Business Group, and the Digital Media and Entertainment Group.

• The firm stated every enterprise unit may search its preliminary public choices (IPOs).

• Price Action: BABA shares traded decrease by 3.20% at $78.60 on the final verify Thursday.

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This article Alibaba’s Strategic Growth: Announces Plan to Hire 15,000 Despite Downsizing Reports initially appeared on Benzinga.com

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