ZTE denies rumor of layoff

Published on July 24, 2012 by connie | This story has been viewed 668 views

ZTE Corporation, a global leading provider of telecommunication equipments and technologies has gone through several troubles this year. Following the dumping allegation by EU and accidental issuing of profit warning, there is information saying that, due to the slowing down of oversea project, ZTE this year may axe ten thousand employees, nearly one fifth of the group. But ZTE has denied the rumor and said it had not any plan of layoff and, instead, a thousand persons are planned to be increased.

A domestic media quoting an employee of ZTE that, due to the unfavorable exploiting of oversea market, several batches of employees working in foreign countries have been called back since the beginning of this year. They were told to look for jobs by themselves after coming back and will only be paid with basic wage if fail. It’s said over ten thousand employees will be cut off this year.

ZTE has issued statement saying that it has not any plan of layoff. Instead, thousands of college graduates will join in the company and work in research and development jobs.

As to the employees called back, ZTE said it would promote localization of human resources in designed way, letting the experienced oversea employees gradually take the management position. At the same time, personnel relocation will be arranged according to business development.

Shenzhen Post Elaine contributes to the story.

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