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.
“The next decade will be a very painful historical period, as the global economy continues to decline,” Ren said, pointing to the pandemic as well︀ as the impact of the Ukraine war and a “continued blockade” by the US on︁ some Chinese business.
https://www.theguardian.com/technol...arning-painful-next-decade-ren-zhengfei-china
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.
“The next decade will be a very painful historical period, as the global economy continues to decline,” Ren said, pointing to the pandemic as well︀ as the impact of the Ukraine war and a “continued blockade” by the US on︁ some Chinese business.
https://www.theguardian.com/technol...arning-painful-next-decade-ren-zhengfei-china
