Chinese tech giant Huawei has announced the loss of over 600 jobs in the United States, citing business restrictions as one of the main reasons for the move.
US President Donald Trump recently signed an executive order barring US companies from using components manufactured by firms that pose a ‘security risk’ to American interests.
Huawei is not a particularly major player in the telecommunications landscape in the United States, but does provide equipment for a lot of smaller, mostly rural internet providers.
According to the company, the restrictions imposed by the Trump Administration will effectively wipe out about $30bn in sales over the next 24 months.