Huawei to give $286 million bonus its 1.9 lakh staff worldwide
Chinese telecoms giant Huawei will pay $286 million (₹2,050 crores) in bonuses to its staff worldwide and double the salaries for almost all its 1.9 lakh employees for October. The payments are a reward for its workers, who helped the telecom giant through the US ban. The bonuses will go to Huawei's R&D teams and those working on finding alternate supply chains after being banned in the US.
Earlier in May, Huawei was blacklisted by the United States from doing business with American firms. US President Donald Trump signed an executive order essentially banning the company in light of national security concerns.
According to a report in Reuters, the U.S. government believe that Huawei’s equipment, specifically its 5G networks, pose a security risk as it allegedly holds close ties to the Chinese government. Huawei has denied the Chinese government plays any role in its operations.
Huawei is the world’s second-largest maker of smartphones. A surge in its shipments of devices helped it to report a 27% rise in third-quarter revenue last month.
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