Mar 29, 2023 03:53 AM

BUSINESS

Alibaba Splits Into Six Business Units in Biggest Overhaul

By Bao Yunhong, Qu Yunxu and Han Wei

Alibaba reaffirmed Tuesday a cost-cutting strategy to shore up the bottom line

Alibaba reaffirmed Tuesday a cost-cutting strategy to shore up the bottom line

Alibaba Group Holding Ltd. unveiled a historic business overhaul Tuesday under which the e-commerce giant will split its $220 billion business into six units with independent decision-making on financing and share sales.

The reorganization, the largest in 24 years since Jack Ma established Alibaba, will transform the enterprise into a holding company, similar to Google’s restructuring as Alphabet.

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