Tech
Sources: Alibaba Cloud plans to layoff 7% of its staff, or ~1,000 employees, as it prepares for a spinoff within 12 months and an eventual IPO (Cissy Zhou/Nikkei Asia)
Cissy Chau / Nikkei Asia:
Source: Alibaba Cloud plans to lay off 7% of employees, or ~1,000 employees, as the company prepares for a spin-off within 12 months and eventually an IPO– Moving after the tech giant announced a split within 12 months – Alibaba, like other Chinese tech companies, has been cutting costs and reducing headcount for more than a year.
