Huawei Technologies Company Limited, a China based telecommunications and equipment company is scaling up its pool of scientists despite the loss of revenue due to the US sanctions. The US has restricted semiconductor technology access to China and consequently, Chinese companies are ramping up investments in research and development along with technological advancements.
While other companies reduce pay, impose layoffs and force terminations on employees, Huawei has been paying its growing workforce despite US sanctioned restrictions. Reportedly, the telecommunications company has been so far consistent in acquiring skilled talents and providing them unrestricted payments. Huawei has recruited around 3000 new employees between 2019-2020, despite the coronavirus led pandemic. Majority of the appointments (53.4%) being in the research and development segment.
“Despite US restrictions over the past two years, we have not changed our human resource policies, and everything is business as usual, like salary and bonus distribution, job grade raises, and company share distribution,” said Huawei CEO Ren Zhengfei.
The Trump led government had earlier blacklisted Huawei over national security concerns, which were categorically denied by the telecommunications company. This resulted in the halt of technology exchanges between the two countries and remains intact till date. Ren revealed that the company is no longer seeking aid in terms of technology and related tools to render efficient products and services. It has instead planned on amplifying its own resource pool by investing more on skilled talents, research and development. This has helped Huawei in delivering good quality services and products along with enhanced profits.
Ren relies on utilizing top scientists, science, technology and research to gather enough theoretical, engineering, and technological knowledge to prevail over the US mandated restrictions.
Huawei has witnessed a slight downfall in terms of revenue on a yearly basis. It dropped from 454 billion yuan in 2020 to 320.4 billion yuan in the first half of 2021.