Huawei Technologies Co denied media reports that the company has launched massive layoffs, news portal tech.sina.com.cn reported on Saturday.
Earlier media reports said that the company planned to eliminate 30,000 to 50,000 employees. The company has around 170,000 employees, according to the report.
The report noted that Huawei is planning to increase its presence in fifth-generation telecoms technology, and it is not very likely for it to downsize at this point in time.
