Insiders reveal that e-commerce giant Alibaba Group is scaling back its metaverse operations, with dozens of employees from its metaverse division "Yuanjing" being laid off, affecting operations in both Shanghai and Hangzhou.

According to Foresight News and a report by the South China Morning Post, sources have revealed that e-commerce giant Alibaba Group is scaling back its metaverse operations, with dozens of employees from its metaverse division "Yuanjing" being laid off, affecting operations in both Shanghai and Hangzhou.

Insiders: Alibaba Group's metaverse division "Yuanjing" lays off dozens of employees