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Alibaba's Cloud Unit to Cut 7% of Staff, Bloomberg Reports

Provided by Dow Jones

May 23, 2023 11:22am

By Dean Seal

--Alibaba has started a round of job cuts that aims to reduce the staff of its cloud division by about 7%, Bloomberg reports.

--The cloud division has started offering severance to employees or transfers to other units at Alibaba, an unnamed source told Bloomberg.

--The overhaul is intended to help prepare the cloud unit for a spinoff and eventual initial public offering, according to the source.

Full story: https://www.bloomberg.com/news/articles/2023-05-23/alibaba-s-cloud-arm-is-said-to-cut-7-of-staff-in-overhaul

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

May 23, 2023 07:22 ET (11:22 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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