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Alibaba Reduced Headcount by a Further 20,000 in 2023 - Slashdot
source link: https://slashdot.org/story/24/02/07/1559204/alibaba-reduced-headcount-by-a-further-20000-in-2023
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Alibaba Reduced Headcount by a Further 20,000 in 2023
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Alibaba Reduced Headcount by a Further 20,000 in 2023 (bloomberg.com) 3
Posted by msmash
on Wednesday February 07, 2024 @01:01PM from the meanwhile-in-China dept.
An anonymous reader shares a report: Alibaba Group cut its staff by roughly 20,000 over the course of 2023, adding to a spate of layoffs spanning global tech companies from Silicon Valley to Hangzhou. China's e-commerce pioneer ended December with 219,260 employees, down from close to 240,000 a year earlier, it said in detailing its earnings for the holiday quarter on Wednesday.
The company's pace of eliminating roles has been fairly steady, as it reduced headcount by roughly the same number over the course of 2022 as well. Mirroring US peers like Meta Platforms, Alibaba paired the reduction in staff with a significant buyback, extending its authorization for repurchases by another $25 billion on Wednesday. The company bought back $9.5 billion worth of shares in 2023.
The company's pace of eliminating roles has been fairly steady, as it reduced headcount by roughly the same number over the course of 2022 as well. Mirroring US peers like Meta Platforms, Alibaba paired the reduction in staff with a significant buyback, extending its authorization for repurchases by another $25 billion on Wednesday. The company bought back $9.5 billion worth of shares in 2023.
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