earlier i spoke to janet moi, head of market analysis at rbc brewin dolphin. and asked how much of a surprise this move was? this is a surprise announcement, but actually not too surprising in the grand scheme of things, because alibaba has been facing a number of challenges. it has now split up into six units because of antitrust concerns. and also china, economic growth is slowing. alibaba is very hard to see that kind of double digit year on year growth going forward. so actually, in the last three quarters there is just single digit, and five of this division is loss making. so i think a new leadership is likely to generate new ideas, to give newer perspective. and also these two leaders actually bring back from the veteran when they were actually working very closely with the founder, jack ma. so we ll see if there is going to be a turnaround from this leadership.
you mentioned the six different units, how likely do you think it is we may see job losses and possibly even separate stock market listings? so, the cloud division, which is the second biggest unit, it is loss making and there were reports that actually it is going to cut about 7% of its workforce. and the fact that these units are likely to go to initial public offerings, usually it means that investors will be scrutinising the financials. so usually it may be a good move for these companies to actually streamline their businesses, increase efficiency, which may meanjob losses. but then, actually, there is another official report coming from alibaba that, actually, they are still broadly hiring. they actually need to hire 15,000 people in the coming future. so the message is a bit mixed, but i think there could be job losses coming. in the us, the electric vehicle maker rivian has announced it s agreed to adopt tesla s charging standard.