This time, as part of the restructuring exercise, the lay-offs are reportedly going to affect the stores’ large human resources department.
The Shenzhen-based telecoms gear maker, is reportedly laying off about five per cent of its 60,000 strong global workforce.
The cash crunch and resulting demand slump have taken a toll on small and medium enterprises, as companies are looking to lay off 25 per cent of their workforce.
As part of cost cutting, the organisation is planning to lay off a tenth of its global workforce beginning with Singapore and Hong Kong.
During April–September this year the company laid off 14,000 employees across businesses, to stay agile and competitive.
The company is facing a subdued market with its shares coming down 1.3 per cent in extended trading.
These job cuts— a part of an annual cost trimming plan —will account for a small portion of its total Asia corporate and investment banking staff.