Alibaba denied that the office space it is building in Singapore will become the company's global headquarters.  The construction is for Lazada's workforce, a subsidiary of Alibaba and one of Southeast Asia's largest e-commerce platforms. More: Since 2013, Alibaba's headquarters have been in Hangzhou, and the company recently declared they will always be there. During Q3 2022, Alibaba joined other tech firms and laid off 1,800 workers. However, the company had a 68% increase in operating profit. Alibaba also expects higher sales in the Lunar New Year, with sales of new year gifts and merchandise increasing by 30% compared to 2022.