0
Wireless

ZTE to cut 3,000 jobs in Q1 - report

Monday 9 January 2017 | 08:05 CET | News
ZTE wants to eliminate 5 percent of its global workforce, or around 3,000 jobs by the end of the first quarter, Reuters reported, with sources saying the cuts include a fifth of positions in its handset business in China. The handset operations will lose 600 jobs, or 10 percent of the total, with the cuts concentrated in China. Cuts in the handset business in China will go beyond 20 percent," said a senior executive briefed on the lay-offs. A local manager in one of the company's overseas branches said a 10 percent quota was given to shed staff in his department by the end of January. ZTE

Thank you for visiting Telecompaper

We hope you've enjoyed your free articles. Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Mobile & Wireless
Companies: ZTE
Countries: China / World
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

ZTE herstelt in Q1, meer omzet en winst

Published 18 Apr 2017 13:34 CET | World
ZTE heeft over het eerste kwartaal van dit jaar een omzet gerealiseerd van 25,7 miljard yuan, een stijging van bijna 18 procent. ...

ZTE results recover in Q1, sales up 18%

Published 17 Apr 2017 13:08 CET | World
ZTE announced a strong start to 2017, with a 27.8 percent increase in net profit to CNY 1.21 billion. Revenues rose 17.8 percent ...

ZTE posts FY loss on fines, sales up just 1%

Published 09 Mar 2017 09:13 CET | China
ZTE reported a net loss of CNY 2.357 billion for 2016, hurt by fines for violating US sanctions. Revenues rose just 1 percent to ...

US extends reprieve on ZTE sales ban

Published 29 Jun 2016 12:02 CET | United States
The US government has extended through 30 August a reprieve to ZTE on export restrictions imposed on the Chinese company in March ...

ZTE to face US export restrictions

Published 07 Mar 2016 08:56 CET | United States
ZTE announced a halt in trading in its shares pending an announcement on the US Commerce Department's proposal to implement ...





5.1%
prepaid revenue drops to 5.1% of total service revenue
Netherlands  |  2017Q1