Telecom equipment provider ZTE has reportedly started layoffs across departments, including wireless research institutes, smartphones and other verticals.
China-based ZTE has noticed several employees about their layoffs before the end of February.
Some departments of the Wireless Research Institute are laying off 10-20 percent of their staff. ZTE’s terminal business department is also the focus of the layoffs.
The job cuts will also impact senior employees who have worked for the company for more than 10 years.
The telecom technology company took the decision to cut jobs to employees due to over-recruitment last year.
A ZTE spokesperson said that this is a normal personnel adjustment and reshuffle like every year and that there has been no obvious change this year.
ZTE has reported 10.42 percent increase in operating income to 92.55 billion yuan ($13.5 billion) in the first three quarters of 2022. ZTE’s net profit rose 16.52 percent to 6.82 billion yuan.