alibaba group holding We are downsizing metaverse The company has become the latest Big Tech company to pull resources from a once-popular field, people familiar with the matter said.
Dozens of employees at Yuanjing, the Metaverse division of e-commerce Giant Alibaba has made the layoffs as part of a reorganization aimed at optimizing and increasing efficiency within the organization, according to people familiar with the matter.
Alibaba, the owner of the South China Morning Post, did not immediately respond to a request for comment on Friday.
Chinese companies often refer to job cuts as “optimization” of their operations to avoid unnecessary public attention.
The layoffs, first reported by Chinese media on Friday, affected Enjing’s operations in both countries. Shanghai and Hangzhouthe capital of eastern Zhejiang province. Online news media AI Jingxuansha reported that Yuanjing had received “billions of yuan” of investment and previously employed hundreds of employees.
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Chinese tech companies pursue metaverse opportunities with immersive virtual online worlds
Chinese tech companies pursue metaverse opportunities with immersive virtual online worlds
However, the official said the Alibaba unit will continue to focus on Metaverse applications and tools and provide Metaverse-based services to customers.
