Chinese ZTE in big trouble
 

Chinese telecom equipment maker ZTE is slashing about 3,000 jobs, including a fifth of positions in its struggling handset business in China.

The company is already facing US trade sanctions that could severely disrupt its supply chain and is getting rid of about five percent of its 60,000 stron global workforce.

Its global handset operations will shed 600 jobs, or 10 percent of the total, with the cuts concentrated in China. Things have not been going very well in China and the outfit is losing market share.

http://www.techeye.net/business/chin...in-big-trouble