Chinese tech conglomerate Alibaba Group on Friday denied speculations of mass layoffs, saying it is committed to hiring 15,000 new employees this year, the media reported.

Earlier reports claimed that Alibaba Cloud is slashing 7 percent of its staff amid a rough economic environment as it prepares for an IPO.

According to South China Morning Post, Alibaba’s six units are planning to make 15,000 new hires this year including 3,000 fresh graduates.

In a post on the company’s official account on China’s Twitter Weibom, the company’s recruitment site is offering “thousands of new posts” each day.

“Each year we see newcomers joining and old colleagues leaving. The movement of talent is what all companies see. At Alibaba, talent is moving in and out normally,” the company said in the post.

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“In the face of new situations, new opportunities, and new developments, we have never stopped innovating and upgrading ourselves, nor have we stopped recruiting and cultivating outstanding talent,” it added.

In March, Alibaba Group planned to split into six business groups and launch separate public listings, triggering mass layoffs, according to a Nikkei Asia report.

The six units will include the Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics Group, Global Digital Commerce Group, and Digital Media and Entertainment Group.

Each business unit will be led by its own CEO and board of directors.

Alibaba employed over 235,000 people (as of March).

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