Alibaba Layoffs: What to Know About the Latest BABA Job Cuts

Chinese e-commerce and cloud giant Alibaba (NYSE:BABA) reduced its workforce by about 20,000 employees during 2023, which the company reported in conjunction with its fiscal third-quarter earnings this morning. Alibaba also noted that it increased how much BABA stock it can buy back by $25 billion.As of the end of 2023, Alibaba’s workforce consisted of 219,260 individuals. That’s compared to nearly 240,000 employees at the end of 2022. As Bloomberg reports, in 2023, Alibaba “reduced headcount by roughly the ...