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Benzinga
Benzinga
Business
Anusuya Lahiri

Alibaba Looks To Trim Work Force By Up To 20%

Alibaba BABA NYSE Alibaba Group Holding Ltd OTC Tencent Tencent Holdings Ltd

Alibaba Group Holding Ltd (NYSE:BABA) and Tencent Holdings Ltd (OTC:TCEHY) are looking to mass layoffs, Pandaily reports based on a local news outlet and Weibo Corp (NASDAQ:WB).

Alibaba's MMC business division's layoff could reach ~20%. Several business lines within Alibaba have finalized their initial layoff list.

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