China’s Huawei To Lay Off Half Its Workforce In India Amid Border Tensions
It is being reported that India will stop the supply to telecom operators from Chinese companies Huawei and ZTE. If this happens then Huawei’s earnings are set to suffer a major setback, which supplies one-third of Bharti Airtel’s network and 40% of equipment to Vodafone Idea’s network. To tackle this, Chinese tech giant Huawei has lowered its revenue target for India to 50 percent by 2020 and will lay off more than half of its workforce in Indian offices. Huawei was expected to earn a revenue of $700–800 million in 2020, which has come down to 350-500 million dollars.