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Huawei will give 2 billion yuan ($285 million) bonus to employees for enduring the US Entity-List



Huawei has allocated a special bonus worth 2 billion yuan ($285 million) to distribute among its employees who have helped the company to minimize the impact of US trade restrictions.

Back in May, the US Commerce Department added Huawei into the Entity-List and imposed trade restrictions that prohibit it from buying US technologies.

According to SCMP, the employees who’ll benefit have not been identified but most beneficiaries are expected to from R&D, in-house software developers and chip production subsidiary – HiSilicon, said the people related to this matter.

Besides the 2 billion yuan shared bonus, each Huawei employee will receive double their salary this month in efforts to help the company during the hard times. Huawei’s total employees’ count reaches 190,000 peoples and the company will deposit the double salary by November 15.

On November 10, Huawei marked 180 days of the US trade blacklisting and compared to May, Huawei is getting back into the market with its effort in both smartphones and network equipment businesses.

In the Business results of Q3 2019, Huawei’s revenue has risen to 610.8 billion yuan ($86.2 billion) including 185 million smartphone units shipment and 60 commercial contracts for 5G with leading global carriers and shipped more than 400,000 5G base stations.

Also, Check – Talks yet to start with US companies for 5G technology license: Huawei Founder

Yash is a graduate of computer science and followed his way into journalism, he is interested in various subjects related to technologies and politics. Yash likes to listen classical songs and has a huge library of classical mixes.