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Huawei to move 1,000 jobs from US to Italy, plus a $3 billion investment to boot

Chinese telecom giant Huawei has called on Rome to ensure the “transparent, efficient and fair” use of its golden power when it comes to developing Italys 5G network.

The CEO of Huaweis Italian unit, Thomas Miao, said on Monday the company will invest $3.1 billion in the country over the next three years. Speaking at an event in Milan, Miao announced that the Chinese company would also provide 1,000 jobs in Italy.

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He confirmed that Huawei would cut 1,000 jobs in the United States. According to the Italy units chief executive, Huawei has “a plan B” to guarantee supplies of components if it is kept on a blacklist by Washington after August.

The US has lobbied Italy and other European allies to avoid Huawei equipment and also to closely scrutinize another major Chinese telecom giant, ZTE. While Washington alleges the Chinese vendors could pose a security risk, both companies have strongly denied any such risk.

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Last week, the Italian government used an urgent legislative decree to strengthen its existing power to intervene in the private sector for the defense of national securiRead More

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