(Reuters) – Alibaba Group Holding Ltd’s cloud unit has started a round of job cuts that could slash its staff by about 7% as it prepares for an IPO, Bloomberg News reported.
China’s largest cloud service has started to offer severance to employees or transfers to other units, the report said citing a person familiar with the matter.
Alibaba did not immediately respond to a Reuters request for comment.
(Reporting by Chavi Mehta in Bengaluru; Ediitng by Krishna Chandra Eluri)
