Alibaba Group recently laid off dozens of employees from its metaverse division "Yuanjing" as part of efforts to optimize its business structure and improve organizational efficiency. Despite the Yuanjing division having previously received billions of RMB in investments and employing hundreds of staff, Alibaba is adjusting its resource allocation in response to the cooling trend in the metaverse sector. In the future, Yuanjing will continue to focus on the development of metaverse applications and tools, providing relevant services to customers.

PANews, November 4th news, according to the South China Morning Post, Alibaba Group has recently laid off dozens of employees from its metaverse department "Yuanjing", affecting the operational teams in Shanghai and Hangzhou. Insiders say that this move is aimed at optimizing the business structure and improving organizational efficiency. Despite the Yuanjing department previously receiving billions of RMB in investment and having hundreds of employees, Alibaba is adjusting its resource allocation to respond to the cooling trend in the metaverse sector. In the future, Yuanjing will continue to focus on the development of metaverse applications and tools, providing related services to customers.

Alibaba's metaverse division "Yuanjing" lays off dozens of employees.