HONG KONG, Jan 9 (Reuters) - Shenzhen shares of ZTE Corp fell 3.8 percent after Reuters reported that the Chinese telecom equipment maker is axing about 5 percent of its 60,000 global workforce.
The stock slid to 15.03 yuan, the lowest since Oct. 24, 2016. Its Hong Kong shares fell as much as 3.8 percent.
The Shenzhen-based company, which is facing U.S. trade sanctions that could severely disrupt its supply chain, is slashing about 3,000 jobs, including a fifth of positions in its struggling handset business in China, according to company sources. (Reporting by Donny Kwok; Editing by Stephen Coates)