The Chinese telecom company, Huawei Technologies Co. is set to lay-off about 60-70% of its staff in India. As reported by Reuters, the company has decided to cut its India revenue target by 50% and is thus ready to lay-off majority of the employees in the company.
The news agencies have also reported that the company is targeting a revenue of $350-300 for the year 2020, as opposed to $700-800 million, a target set last year.
On being asked, the India unit of the company denied the lay-off claim. However, the authorities refused to say anything further on this.
“Our India and operations and resources, backed by robust local talent are designed to meet any customer requirements”, says the company.
This news comes amidst the ongoing diplomatic tensions between India and China, where India has been taking some averse measures especially on the corporate front. The government, on Monday, has announced a ban on 47 Chinese apps, after already banning 59 of them later last month.
