A memo from Huawei founder Ren Zhengfei, which was leaked online, urger all 195,000 company employees to brace for bitter times during the coming recession.
Ren advises the company to cut back on marginal businesses and instead focus on profitability as a urgent survival strategy.
Separately, other news media in China revealed that Huawei is preparing to cut 4,000 – 5,000 middle managers as part of a restructuring.
See reporting from South China Morning Post:
