Small company aspect
There can be various benefits/tax incentives available for companies with a small number of employees.
It can make sense, if you have say 2,000 employees, to divide these up into 3 smaller companies, which can then each take advantage of these benefits.
No doubt making these on-paper companies be overseas has other benefits, perhaps regarding tax and/or employment law.
Note - 'benefit' as used above should not be interpreted as benefit for the worker.