Ren Zhengfei, founder and chief executive of Huawei, has publicly warned of job losses as several more governments bar the embattled Chinese technology group from supplying equipment for 5G networks.
“In the coming years, the overall situation will probably not be as bright as imagined, we have to prepare for times of hardship,” Mr Ren said in an email to staff.
He added that goals found to be unrealistic needed to be revised. “We also need to give up some mediocre employees and lower labour expenses.”
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