ZTE Denies Rumors of Large-Scale Overseas Layoffs
Sina Tech, 7/17/12
Chinese telecom equipment and terminal manufacturer ZTE (0763.HK; 000063.SZ) published a statement on its official Sina (Nasdaq: SINA) Weibo microblog account today denying recent reports that it plans to lay off 10,000 employees. ZTE added that several thousand recent university graduates will join ZTE in R&D and other positions this year, and concluded by noting that it is perfectly ordinary for corporations to make internal personnel adjustments in accordance with its business strategy.
Editor's Note: For more background on this topic, please see "Rumor: ZTE Lays Off Overseas Staff" MD 7/13/12 issue.
Keywords: overseas telecom 000063.SZ 0763.HK telecom equipment ZTE HR
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