Huawei to launch 2b yuan incentive plan to reward employees amid US assault: report

Source:Global Times Published: 2019/11/11 19:26:15 Last Updated: 2019/11/12 9:48:42

Ren Zhengfei, Huawei founder and CEO, at a livestreaming "A coffee with Ren" on Wednesday Photo: Courtesy of Huawei

Huawei is set to launch an incentive plan to reward its employees, the company confirmed to the Global Times on Monday.

The confirmation came as some social media posts suggested the company is launching an incentive plan of 2 billion yuan ($286 million) to reward more than 90,000 employees' hard work in the fight against the impact of the US' blacklisting.

The Chinese tech giant, which hasn't caved in to US bullying and reached faster growth amid the pressure, launched the "remuneration reward" on November 11, China's Single's Day shopping festival, according to a screenshot of a post in the company's internal online platform.

"To thank employees' striving and hard work since the 'US 516 sanction (refers to the US putting Huawei on its entity list on May 16),' Huawei's 90,000 staff workers (not including Huawei subsidiary Smartcom and production line), will get an average reward of more than 20,000 yuan per person," the post read.

"The incentive plan is separate from the year-end bonus," according to the post.

US blacklisting have pushed Huawei into "a wartime" battle, and Huawei's staff workers are full of fighting spirit, said Ren Zhengfei, founder and CEO of Huawei, in an interview called "A Coffee With Ren" last week, according to media reports.

Besides staff workers, Ren also thanked Huawei's clients. 

"Over 30 years, Huawei … has built trust with clients. Although the US imposed strict trade ban, operators continue to buy from Huawei. The US is powerful, the trust from our clients is even more powerful," Ren said.

In response to the US Entity List, Ren said Huawei should thank US suppliers for their support in the past 30 years, and will always embrace globalization.

Huawei has secured faster growth under the US tech sanctions. Its revenue for the first three quarters grew an impressive 24.4 percent to 611 billion yuan, faster than the 23.2 percent growth rate recorded for the first half of the year. It gained a net profit of 53.5 billion yuan for the nine months.  

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