ZTE, one of the largest Chinese mobile phone giants is laying off 3000 of its staff it has been revealed!
We’ve heard of problems at Meizu and LeEco in the past, and we’ve even seen small brands disappear altogether (iOcean for example), but when we think of ZTE we imagine a huge, unstoppable company, but this isn’t the case!
It has been revealed that ZTE will be slashing 3000 staff from its mobile phone business in China due to a slip in market share! Overseas staff will also be at risk of losing their jobs too as the company has given a quota of 10% to shed staff!
While problems at home in China are due to a shrinking market share, the layoffs in the global markets are mainly due to sanctions imposed on the company from the U.S which could make sourcing components from Microsoft and Qualcomm impossible in the future.
Interestingly, ZTE are also rumoured to be getting rid of any current employee who has applied at rivals Huawei too!