Tech layoffs: Alibaba’s cloud division reportedly lays off 7% of its workforce

Alibaba has joined the ever-growing list of companies announcing layoffs. The Chinese tech giant is reportedly planning to fire 7% of its workforce from its cloud division. As reported by a news agency, Alibaba is said to announce the job cuts early next week.

The report adds that the tech giant has already started informing the employees about the layoffs. The company is also giving some employees the option to join other divisions of the company. Presently, the exact number of employees being fired is not known.

The report suggests that job cuts are part of the company’s restructuring strategy for rapid growth.