Market Chatter: Hangzhou Hikvision Digital Technology Denies Mass Layoffs

MT Newswires Live10-14

Hangzhou Hikvision Digital Technology (SHE:002415) denied plans of "large-scale layoffs" amid reports that it was slashing more than 1,000 employees in China, The South China Morning Post reported Sunday, citing Chinese media reports.

The video surveillance technology supplier said it is optimizing its research and development manpower and is adjusting "some regional job settings accordingly," according to the report.

Earlier in April, a US federal appeals court upheld the Federal Communications Commission right to ban video surveillance products made by Chinese-owned companies Hikvision and Dahua.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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