Huawei is one of the world’s leading Chinese technology brands. The bad news is that the company is currently going through the most difficult period of its business operations, particularly in Pakistan. We all know that Pakistan is suffering from a severe economic collapse affecting all businesses. As a result, smartphone maker Huawei is also making it tough. However, Huawei Pakistan has developed a two-stage strategic strategy to combat the current economic crisis in the country.
Huawei Pakistan wants to fight the economic crisis by reducing the workforce
The first step in Huawei’s strategy is to cut nearly 700 jobs by April this year. The point worth mentioning is that the first move within the company is already underway and more than 300 employees have been disembarked in the past month. After achieving the workforce reduction target, the smartphone maker will evaluate its operational costs. In addition, it aims to reduce these by 65% by also reducing operating and travel costs.
Let me tell you that there are currently unnecessary travel restrictions for mid-level employees at Huawei. In addition, an internal source has also indicated that the company is aiming to extend this restriction to the second tier of the company. This means that travel is only allowed with the prior approval of the CEO.
When it comes to the aftermath of the economic downturn, Huawei is not the only company in Pakistan that has suffered a lot and taken measures to reduce costs. Airlift, Vavacars, Uber, Carfirst and SWVL are among the companies that have stopped or limited their activities in the recent past. Even though Careem and Daraz have recently announced significant headcount reductions. The bad part of the news is that the financial crisis hasn’t been good for fintech either. Similarly, Telenor Microfinance Bank is struggling and seeking a merger, but no potential buyers have been found yet.
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