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Benzinga

World

Navdeep Yadav

Alibaba Lays Off 50 Employees As It Shuts Israel R&D Center: Report

Alibaba BABA Israel Alibaba Group Holdings NYSE e-commerce

Chinese e-commerce giant Alibaba Group Holdings (NYSE:BABA) is shutting down its R&D center in Israel, the company notified its employees on Sunday.

What Happened: According to Israeli News company CTech, Alibaba notified around 50 local employees on Sunday that it plans to shut the center and lay off the staff.

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