Lenovo to Cut 1,400 Jobs Worldwide

[Wizno]

Just over a year ago, Lenovo announced plans to lay off 1,000 employees and the decision to transfer its headquarters from Purchase, NY to Raleigh, NC. At the time, the job cuts represented 5% of Lenovo's global workforce of 21,400 employees and were credited in helping the company return to profitability.
One year later Lenovo has managed to become the world's #3 manufacturer of PCs behind HP and Dell; however, the company is once again cutting jobs. The company will cut 1,400 jobs globally which will represent another 5% decrease. The cuts are expected to save the company roughly $100 million USD during the 2007-2008 fiscal year. The company will also take a pre-tax restructuring charge of between $50 to $60 million USD for its first fiscal quarter which ends on Jun 30, 2007.



Lenovo to Cut 1,400 Jobs Worldwide