Huawei plans to lay off hundreds of U.S. employees following its ban

By Akshay Kedari  | Date: 2019-07-15

Huawei plans to lay off hundreds of U.S. employees following its ban

The people who have been laid off would have the option to work for the company in China

Chinese tech giant, Huawei Technologies Co Ltd, plans to lay off a large number of people in the U.S. as the company struggles with its blacklisting in the country.

Apparently, jobs at the company’s research and development subsidiary in US, Futurewei Tech subsidiary, are also expected to be affected due to the layoffs. The unit employs around 850 people in the research labs all across the United States, sources familiar with the matter informed.

Citing sources, the layoffs are expected to be in hundreds, with probable option for the Chinese employees of Huawei in the U.S. to leave and stay with the company in their home country.

Reportedly, planned job cuts are expected to be announced soon while some employees at Huawei have been notified of their dismissal. Huawei has not disclosed the matter further.

According to reports, employees at Futurewei have faced major restrictions in order to communicate with their colleagues working in the home offices of Huawei located in China, sources stated. 

Wilbur Ross, U.S. Commerce Secretary said that licenses will be issued by the U.S. government to all the companies looking to sell goods to the Chinese giant where they will find no security threats.

For the record, the Trump administration reportedly blacklisted tech giant, Huawei along with over five dozen of the company’s affiliates from purchasing American components and technology owing to national security concerns. This could strictly hamper Huawei’s ability to create and develop advanced telecommunications products.

The U.S.-China trade war continues as Trump persuades Chinese govt. to change the old age industrial and trade policies. Apparently, Washington had increased its tariffs to 25 percent recently on $200 billion worth of products made in China as well as threatened to impose duties over almost every Chinese good later in the year. In a reaction to the move,  Beijing reportedly introduced its own retaliatory tariffs.

 

Source Credit- https://www.businessinsider.com/huawei-plans-extensive-layoffs-at-its-us-operations-wsj-2019-7?IR=T

About Author

Akshay Kedari     aeresearch.net

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More >>

More News By Akshay Kedari

Google Fi confirms data breach, leaking millions of customer’s data

Google Fi confirms data breach, leaking millions of customer’s data

By Akshay Kedari

Google Fi, Google's cell network operator, has reportedly revealed a data breach, which is most likely related to the T-recent Mobile's security disaster, which allowed hackers to leak millions of customers' personal information. The p...

European semiconductor giant ASML forecasts a sales surge for 2023

European semiconductor giant ASML forecasts a sales surge for 2023

By Akshay Kedari

Dutch semiconductor company ASML has reportedly forecast a revenue jump for the year 2023 as the global semiconductor industry anticipates a reacceleration of growth during the second half of this year. According to the firm, its net sales  f...

Interfor Corporation acquires 100% equity interest in Chaleur Forest Products

Interfor Corporation acquires 100% equity interest in Chaleur Forest Products

By Akshay Kedari

Following this funding, Interfor's long-term debt will hold a weighted average interest of 5.30% Interfor registered a Net Debt to the Invested Capital ratio of nearly 10% as of October 31, 2022 Interfor Corporation, one of the world...

ESR's ARA and Export-Import Bank of China partner in a deal worth US$1B

ESR's ARA and Export-Import Bank of China partner in a deal worth US$1B

By Akshay Kedari

Leading real estate services and investment company, ESR Group Limited, has recently announced that its exclusively-owned subsidiary, ARA and the Export-Import Bank of China have inked a breakthrough collaboration in a deal worth USD 1 billion infras...

Circularise nabs $11M to bring circular economy to industrial supply chains

Circularise nabs $11M to bring circular economy to industrial supply chains

By Akshay Kedari

Leading software platform, Circularise recently announced that it has raised $11.3 million (€11 million) in funding as part of its Series A round in a bid to advance its mission to bring a circular economy to industrial supply chains. The fun...