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Current position : HomePage >> Merchants >> Lenovo to lay off 1,400 workers

Lenovo to lay off 1,400 workers

http://www.btobcn.net¡¡¡¡Release time :2007-4-22 0:35:00
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The personal computer maker Lenovo Group said it would lay off 1,400 workers and move jobs to emerging markets to better compete with faster growing rivals. Lenovo, which leapt onto the world stage in 2005 when it bought the PC operation of I.B.M. for $1.25 billion, said it would cut a net 650 jobs worldwide. An additional 750 positions will be moved to Brazil, China, India and Slovakia, countries with lower labor costs that are close to Lenovo¡¯s suppliers and manufacturing operations. Lenovo, which is based in China, said the plan would affect 1,400 workers including contractors, or about 5 percent of its work force. The company said it expected to take a pretax restructuring charge of $50 million to $60 million, mostly in the first quarter, and expected savings of about $100 million in the 2007-8 fiscal year, which began on April 1.¡¡



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