PC giant Lenovo Group on Thursday said it’s cutting 1,400 positions worldwide, including 20 percent of the workforce at its global headquarters in Research Triangle Park, N.C.
Lenovo Group President and CEO William J. Amelio and Chief Operations Officer Fran O’Sullivan were at the Research Triangle Park facilities Thursday morning meeting with groups of employees regarding the layoffs, which amounted to roughly 5 percent of the company’s worldwide workforce. Lenovo must become “more efficient by reducing expenses” to win in the PC business, Amelio said in a statement. Lenovo expects savings from the cutbacks to total $100 million in the 2007-08 fiscal year, which began April 1. Most of that savings will be reinvested into the business to support the company’s strategic initiatives.
Source: EETimes.com