Alibaba's Strategic Growth: Announces Plan to Hire 15,000 Despite Downsizing Reports
Portfolio Pulse from Anusuya Lahiri
Alibaba Group Holding Limited (NYSE:BABA) announced plans to hire 15,000 people in 2023, contradicting reports of layoffs. The company will recruit for its six major business divisions, including 3,000 university graduates. Alibaba dismissed layoff reports as rumors and cited its recruiting system as evidence of continued hiring.
May 25, 2023 | 4:58 pm
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Alibaba announces plans to hire 15,000 people in 2023, contradicting layoff reports. The company will recruit for its six major business divisions.
The announcement of hiring 15,000 people in 2023 contradicts previous reports of layoffs, which may improve investor sentiment and potentially lead to a short-term increase in Alibaba's stock price. The company's commitment to growth and expansion in its six major business divisions could also positively impact its stock price.
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