Caixin
Jan 21, 2019 08:10 PM
BUSINESS & TECH

Huawei Founder Forecasts ‘Bitter Days’ Ahead, Announces Layoffs

Ren Zhengfei, founder and CEO of Huawei Technologies Co. Ltd., answers questions during an interview at the company’s headquarters in Shenzhen, Guangdong province, on Jan. 15. Photo: VCG
Ren Zhengfei, founder and CEO of Huawei Technologies Co. Ltd., answers questions during an interview at the company’s headquarters in Shenzhen, Guangdong province, on Jan. 15. Photo: VCG

* Comments follow last week’s remarks that company has won over 30 5G commercial contracts worldwide and that its revenue is expected to grow

* Company founder promises that layoffs will be on “a small scale”

(Beijing) — The founder of beleaguered Huawei Technologies Co. Ltd. said the tech giant is cutting staff as it faces headwinds in its emerging 5G business.

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