Rough quarter
Lenovo said it’s planning to reduce its workforce by around 5 percent, which works out to 3,200 job cuts. It’s a cost cutting measure that Lenovo anticipates will reduce expenses by about $650 million in the second half of this year, and $1.35 billion annually.
News of the staff reduction came as Lenovo reported financial results for its first fiscal quarter ended June 30, 2015. Quarterly revenue came to $10.7 billion, an impressive figure on …read more
