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Alibaba pivots from metaverse to AI, lays off employees

Alibaba Group Holding has reduced its workforce in the metaverse division, Yuanjing, as part of organizational restructuring.

According to a source, several employees have been laid off to improve efficiency.

These job cuts affect Yuanjing’s operations in Shanghai and Hangzhou.

Despite the downsizing, the division will continue working on metaverse applications and services.

Recent Alibaba Development

Timeline
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15-Aug-2024 📈 Alibaba’s financial health in 12 charts

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