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Lenovo laying off 1,400 employees, looking overseas
Tough news on the Lenovo front, as the "world's third ranking PC manufacturer" is looking to axe 1,400 of its US-based employees -- and fast. Reportedly, the firm has decided to lay off a good chunk of its American-based work force "within the next 30 to 60 days" as it turns around and creates around 750 new positions in Brazil, China, India and Slovakia. The company stressed that its return to profitability last year was greatly assisted by the laying off of upwards of 1,000 employees, and insinuates that the latest cost-cutting measures are just attempts to "make the organization more efficient by reducing expenses." The cuts also include a whopping 20-percent of the work force at Lenovo's Research Triangle Park (RTP) location and around five-percent overall, but should net some $100 million in savings for the new fiscal year. Sadly, it just seems to get more cutthroat every year in the corporate arena, regardless of accomplishments.[Via TWW]
