Alibaba says to hire this year, refuting layoff rumours

SHANGHAI (Reuters) -Alibaba Group Holding Ltd said on Thursday it planned to hire 15,000 people this year, dismissing rumours circulating on Chinese social media in recent days that the company planned to cut 20% of its workers.

In a post on the firm's official Weibo account, Alibaba said that among the 15,000, more than 3,000 people would be newly-graduated students.

"Talent movement is what all enterprises have been doing. In Alibaba, talents have been coming in and out, moving normally," the company said in the Weibo post.

Alibaba's cloud unit has started a round of downsizing that will impact 7% of the staff as it streamlines its business in preparation for an IPO, a source familiar with the matter said on Tuesday.

(Reporting by Brenda Goh, Writing by Meg Shen; Editing by Kirsten Donovan)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• YPF Energía Eléctrica S.A. files for proposed NYSE IPO
• Buy one of the most compelling AI plays in China: BofA
• Tarsus Pharmaceuticals CCO to depart for medical device CEO role