Falling telecom business triggers layoffs at Huawei India; company slashes revenue target for 2020

New Delhi: Chinese telecom equipment maker Huawei has slashed its India revenue target for 2020 by up to 50% and is laying off 60-70% of staff, excluding those in research and development and the Global Service Centre, said several persons with knowledge of the matter.

The move comes as the company battles plunging demand for its equipment and services amid border hostilities between China and India. India has joined the US and UK in flagging security concerns over Huawei’s links to the Chinese government. New Delhi has already barred state-run carriers from sourcing equipment from Chinese companies Huawei and ZTE, and is believed to have informally nudged private telcos to replace Chinese equipment over time, without disrupting consumer services.