United States: Huawei seeks to raise fresh funds from employees amid US trade sanctions

Huawei Technologies is trying to raise funds from its employees, as China’s largest tech company struggles with the impact of US trade sanctions, according to three people familiar with the matter.

Earlier this year, the world’s largest telecommunications equipment vendor adopted a new rule on profit dividends that allows its employees to buy virtual shares worth 25 percent of their income from the past five years, the people said. Employees who have worked for more than five years are eligible for the new scheme, according to the people, who asked to remain anonymous because the information is not public.

The Shenzhen-based company is 100-per cent owned by 104,572 employees, including founder and chief executive
Ren Zhengfei. It had 194,000 total employees worldwide at the end of last year.

The original full article can be found at scmp.com

(Photo: REUTERS/Toby Melville)

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