We know that the Chinese government has recently lifted restrictions on the tech firms in the country which has been there for the last three years ever since the early part of pandemic when the Government suddenly thought that the tech firms, including the e-commerce ones, are getting too powerful and they would have to put restrictions on them in order to make them not bigger than the country itself. All of a sudden, the government has now realized that their economy is going through the worst of slowdowns and almost a recession right now and so, once again, they have lifted the restrictions from these companies.
These companies including the e-commerce giant Alibaba as well and its divisions such as Taobao and Tmall are now looking to hire as much as possible so as to compensate for the slow growth they faced in the last few years due to this crackdown. As per reports from Chinese state media SCMP, it is expected that Alibaba will hire close to 2000 new employees in the next few months. It is reported that Alibaba “is looking for fresh graduates to fill roles ranging from engineering to algorithms and data in places including its hometown Hangzhou, as well as Beijing, Shanghai, Nanjing and Guangzhou. The recruitment effort forms part of an overall plan by Alibaba to add 15,000 employees – including 3,000 fresh graduates – across the company this year”.
Tencent Holdings also announced that “it would be offering a large number of openings at home and abroad, covering artificial intelligence, cloud computing, robotics and industrial internet” as China’s youth unemployment reaches a new high as of last month. It is quite possible that China has told its tech companies to start hiring people in order to reduce unemployment as it is not unthinkable to imagine China having control over almost anything in the country, including the private sector and they can order them whatever they want. Alibaba’s split into six different units was also forced by the pressure from Chinese government to downsize but they mentioned it as a move to “unlock investor potential” for obvious reasons.