News Formal

Huawei unit cuts more than 600 jobs following US sanctions | Business | M&G

  • 📰 mailandguardian
  • ⏱ Reading Time:
  • 11 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 92%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

Chinese telecom giant Huawei said on Tuesday that more than 600 jobs would be lost at a US unit as a result of “curtailment of business operations” caused by Washington’s sanctions on the firm and 68 of its subsidiaries.

The layoffs will come at the Chinese company’s US-based research and development arm, Futurewei Technologies, which is incorporated in Texas, an email statement from Huawei said.“Decisions like this are never easy to make. Eligible employees will be offered severance packages, including both pay and benefits,” the statement said.

Huawei — a leader in next-generation 5G wireless technology — remains barred from developing 5G networks in the United States, and the Trump administration is trying to convince its allies to do the same.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: U.S. Negotiators to Head to China Monday for Face-to-Face TalksU.S. Trade Representative Robert Lighthizer and senior U.S. officials are set to travel to China next Monday for the first high-level, face-to-face trade negotiations between the world’s two biggest economies since talks broke down in May.
Source: dailymaverick - 🏆 3. / 84 Read more »