Huawei to Pay Out Employees $286 Million in Bonuses for Helping to Counter US Sanctions
Huawei will pay out RMB 2 billion ($286 million) in bonuses and double almost all employees’ monthly salaries for October as a reward for helping the world’s largest telecoms equipment maker counter US sanctions imposed by the Trump administration, reported the Financial Times.
In May, the US barred the Chinese company from buying crucial semiconductors from suppliers including Qualcomm and banned it from using Google’s Android operating system in its smartphones, citing worries the group poses a national security risk.
Washington views Huawei as a potential spy on behalf of the Chinese government, an allegation the company denies.
Huawei, which employs about 190,000 people, will disburse RMB 2 billion to employees working in the team focused on minimizing the impact of US sanctions through research and development as well as finding new supply chains, according to four Huawei employees.
Source: China Economic Review
Why do all media push the line that US suspects the Huawei are spying on everyone. The US is just using that as an excuse to give them time to develop something which they think will compete with Huawei. They know that Huawei does not pose any threat to them. Also, with Chinese technology so far ahead of US technology why would China copy inferior stuff when they already have better?
2 month’s salary of a worker owned enterprise, plus dividends. The edge has shifted to social democracy as the ability to release the productive power of workers. Look at the managerial (overseer) dominated system of the USA, uninnovative under production, an economy dominated by nonproductive financial thieves.
I usually look at the car industry, the switch to electric in China compared to Europe and the Americas, the rail system, the road system, and the telecommunications. China has an economy, I am not sure the others can claim that, more like a kleptocracy impoverishing the nation.
A rather brilliant move.
It rewards employees for extra effort, of course.
But it also strongly reinforces the idea that employees work for a solid company, not one about to be destroyed by American efforts, and one which looks after its own.
It also advertises itself to the world as a good guy.
By November 2020 there is a good chance Trump will be gone
By November 2024 Trump will be gone.
In the meantime Xi Ping will continue to be leader. The next US administration will have to deal with Xi Ping