Huawei founder sparks alarm in China with warning of ‘painful’ next decade
by Helen Davidson in Taipei from Economics | The Guardian on (#62WM0)
Ren Zhengfei writes in leaked memo that chill will be felt by everyone' and company must focus on survival
The founder of Huawei has delivered a stark warning for the tech company's future, sparking alarm with the frankness of his assessment and what it signals for smaller businesses amid China's economic troubles and a global downturn.
In a leaked internal memo, Ren Zhengfei told Huawei staff the chill will be felt by everyone" and the company must focus on profit over cashflow and expansion if it is to survive the next three years, indicating further job cuts and divestments.
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