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Hong Kong-listed Lenovo to axe 1,000 jobs to cut costs - report


Published : Tue, 27 Feb 2007 05:47
By : Agencies
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HONG KONG (XFN-ASIA) - Lenovo Group Ltd plans to lay off about 1,000 employees worldwide, including about 400 in greater China, in a new round of corporate restructuring, the South China Morning Post reported.

The newspaper, without citing sources, said the job cuts are expected to cost the company about 60 mln usd in restructuring charges, but save it about 150 mln usd a year.

Last March, Lenovo cut about 1,000 jobs, incurring a restructuring charge of 100 mln usd, in a bid to integrate its global sales and back-office functions.

(1 usd = 7.81 hkd)

jun.concepcion@xfn.com

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