Top Chinese Telecom Company Lays off Staffs in India, Cuts Revenues Up to 50 Percent: Details!  

Amid calls to boycott Chinese goods, Chinese telecom company Huawei Technologies Co has cut its India revenue target for 2020 by up to 50 percent. Not just that, the firm is also laying off more than half of its staff in the country. 

As per an Economic Times report, Huawei's India unit commented on the layoff saying, the layoffs of more than half of Huawei staff in the country was untrue, but did not elaborate much on it. The company was also targeting $350-500 million in revenue for 2020, when compared with roughly $700-800 million it was aiming for earlier in Asia's third-largest economy.

Further in its report, Economic Times stated that the Huawei Technologies Co was cutting 60-70 percent of its Indian staff. They also excluded those in research and development and the global service centre.

Meanwhile, Huawei's India unit said it continues "to work closely" with all customers in the country. "Our India operations and resources, backed by robust local talent are designed to meet any customer requirements," the company said.

This big move by Huawei, comes amid a rise in anti-China sentiment in India after the killing of 20 Indian soldiers by Chinese forces in a Himalayan border dispute last month. Not just that, India has also directed two state-run telecoms firms to use locally-made rather than Chinese telecom equipment to upgrade their mobile networks to 4G.