**Title: Alibaba Cloud Unit Faces Downsizing Ahead of IPO | Latest Business News**
**Description:** Alibaba group holding ltd, the Chinese tech giant, is in the news once again. Their cloud unit will face a round of downsizing ahead of an eagerly anticipated initial public offering (IPO). Read on to learn more about this significant development and its impact on Alibaba’s growth strategy.
**Tags:** #Alibaba #China #businessnews
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**Sources:**
– [Zee News](https://bit.ly/2Ac5G60)
– [Zee Business](https://bit.ly/36vI2xa)
– [DNA India](https://bit.ly/2ZDuLRY)
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The Chinese tech giant, Alibaba Group Holding Ltd, is making headlines once again as its cloud unit undergoes downsizing in preparation for its highly anticipated initial public offering (IPO). This move comes amidst the ever-changing landscape of the technology and business world, reminding us that even giants like Alibaba must adapt to the winds of change.
In an effort to streamline operations, Alibaba’s cloud division is strategically downsizing approximately seven percent of its workforce. Reports indicate that various packages are being offered to affected employees as part of this downsizing initiative. These measures align with Alibaba’s broader restructuring plans, which were announced earlier this year in response to regulatory changes impacting the tech industry.
Despite a slight decrease in revenue for the recent quarter, with the cloud division reporting $18.6 billion, down two percent from the previous year, Alibaba’s cloud division remains a vital component of its overall growth strategy. The success of this division will be closely observed by investors as the company gears up for its IPO next year.
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**Sources:**
– [Zee News](https://bit.ly/2Ac5G60)
– [Zee Business](https://bit.ly/36vI2xa)
– [DNA India](https://bit.ly/2ZDuLRY)
– [WION](https://bit.ly/3gnDb5J)
Alibaba group holding ltd, the Chinese tech giant, is in the news once again. Their cloud unit will face a round of downsizing ahead of an eagerly anticipated initial public offering (IPO).
#alibaba #china #businessnews
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Alibaba is making the wrong decision. China market is going to grow. Next year the China economic engine will attempt its full power and full gear ahead.