Alibaba Group Holding and its fintech affiliate Ant Group have axed staff transfers as part of a wider splitting of ties on the back of a Beijing-imposed restructuring, reports Nikkei Asia. According to a person familiar with the matter, the pair have been decoupling over the past few months and the latest move means that the once closely linked Chinese tech companies will no longer move employees around internally.
“Both companies are pursuing more independent growth,” the source said. “If Ant becomes more self-reliant, it will focus more on its clients’ needs rather than those of Alibaba.”
It was not clear how many staff had been transferred internally in the past, but another source told Nikkei that such moves had previously been common.