US EUROPE AFRICA ASIA 中文
    Business / Technology

    Lenovo plans to axe 3,200 jobs

    By Gao Yuan (China Daily) Updated: 2015-08-14 07:49

    Lenovo plans to axe 3,200 jobs

    A Lenovo outlet in Yichang, Hubei province. The company announced a 51-percent year-on-year decline in net income for its first fiscal quarter on Thursday. [Liu Junfeng / China Daily]

    Tech firm says Q1 net income fell by 51% on poor smartphone sales

    Lenovo Group Ltd said on Thursday it will lay off 3,200 employees after it announced a 51-percent year-on-year decline in net income for its first fiscal quarter which ended in June.

    The cuts, which will mainly occur in the company's newly acquired Motorola Mobility unit, represent roughly 10 percent of its global non-manufacturing headcount.

    Yang Yuanqing, chairman and chief executive of Lenovo, said poor smartphone sales and worsening global demand for personal computers necessitated the job cuts.

    "We are planning to reduce expenses by about $1.35 billion for this fiscal year, including reductions of about $800 million from the Motorola unit," Yang told China Daily in a telephone interview.

    "Lenovo is facing extremely intense challenges in the smartphone market and we need quick actions to address the problems." Yang, however, did not disclose any further details about the layoff plan.

    Hit by slowing PC and smartphone demand, the company's net profit dropped to $105 million in the first quarter, compared with $214 million a year ago, Lenovo said. In the PC business, which has been Lenovo's cash cow till now, pretax income fell by 8 percent year-on-year despite a growth in market share.

    Lenovo shares fell by more than 5 percent in Hong Kong on Thursday to HK$8.01 ($1.03), an 18-month low.

    Antonio Wang, a Beijing-based analyst with research firm International Data Corporation, said the global slowdown in smartphone sales has forced Lenovo to find new ways to cut operating costs.

    "I think it is reasonable (for Lenovo to cut jobs) as the international market has not been bright and all the players are facing strong headwinds," Wang said. He expects the company to rebound after witnessing another quarterly drop in profits.

    Previous Page 1 2 Next Page

    Hot Topics

    Editor's Picks
    ...
    YW尤物AV无码国产在线观看| 亚洲一区精品无码| 熟妇无码乱子成人精品| 久久综合中文字幕| 亚洲国产精品无码久久| 久久精品一区二区三区中文字幕| 国产精品va无码一区二区| 久久午夜夜伦鲁鲁片免费无码影视| 亚洲AV无码专区日韩| 免费无码一区二区三区| 亚洲av无码专区国产乱码在线观看| 最近2018中文字幕在线高清下载 | 国产成人三级经典中文| 久久久久久无码国产精品中文字幕| 日韩av无码免费播放 | 狠狠精品干练久久久无码中文字幕| 亚洲色偷拍区另类无码专区 | 亚洲AV永久无码精品一区二区| 午夜福利无码不卡在线观看| 精品无码一区二区三区电影| 最近的中文字幕大全免费8| 中文字幕人妻中文AV不卡专区| 亚洲va中文字幕无码| 无码精品蜜桃一区二区三区WW| 亚洲AV无码精品色午夜在线观看| 韩日美无码精品无码| 成人午夜福利免费无码视频| 无码区日韩特区永久免费系列| 色婷婷综合久久久久中文字幕 | 日韩人妻无码一区二区三区 | 亚洲中文字幕无码爆乳AV| 中文成人无码精品久久久不卡 | 精品久久久无码人妻中文字幕| 无码人妻精品一区二区三区99不卡| 成人无码区免费A∨直播| 国产成人A人亚洲精品无码| 97久久精品无码一区二区天美| 精品欧洲av无码一区二区三区| 国产久热精品无码激情| 久久亚洲AV无码西西人体| 中文亚洲AV片在线观看不卡|