Alibaba will overhaul its operations, the South China Morning Post reported, citing a letter to employees. The company will reorganize into six independently run entities, including cloud intelligence, e-commerce and smart logistics.
The overhaul will not impact Alibaba’s New York BABA, -0.90% or Hong Kong 9988, -1.17% listings, the report added. The letter, signed by CEO Daniel Zhang, reportedly says the transformation will result in slimmed-down middle and back office functions and is designed to make its businesses more agile.
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