On the evening of January 6, it was reported that ZTE will lay off about 3,000 people, of which 1/5 will come from the underperforming mobile phone business. According to the report, ZTE currently has 60,000 employees worldwide and will lay off about 5% this time. Among them, the global mobile phone business unit will lay off 600 people, accounting for 10% of the total number of employees in the mobile phone sector.
Exposing Zhongxing Global to lay off most of its staff
ZTE Corporation (ZTE), established in 1985 and 31 years ago, aims to continuously create value for customers through continuous technological innovation. There are 107 branches, 7+1 delivery centers and 14 training centers in the world; 7 A regional customer support center, 45 local customer support centers; 18 global R&D institutions in the United States, France, Sweden, India, China, and other places; PCT patent applications rank the top three in the world for the past five years, 2011, 2012 The PCT is one of the world’s largest in the world.
Moreover, ZTE is the only Chinese manufacturer with a significant share of the US smart phone market. Its share in the US smart phone market is about 10%, making it the fourth largest manufacturer.
ZTE's decadent mobile phone business has become overwhelming
However, in March last year, ZTE was fined by the U.S. Department of Commerce for allegedly violating the U.S. export control policy against Iran, limiting ZTE’s suppliers in the U.S. to export products to ZTE.
These uncertainties overshadowed the company, leading to pressure on its performance. According to IDC data, ZTE’s global smartphone shipments fell by 36.5% compared to 2015.
Up to now, ZTE has not directly answered whether the layoffs have indeed existed. Responsible person of resurgence communication said in response to the rumor: "The company has more than 80,000 employees, the annual turnover rate is about 5-8%, which is a normal level in the industry."
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