Lenovo

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Manufacturing
Manufacture Of Computer, Electrical Electronic And Optical Products
Manufacture Of Computer, Electronic And Optical Products
26 - Manufacture of computer, electronic and optical products
2,500 jobs
Number of planned job losses
Job loss
Announcement Date
9 January 2009
Employment effect (start)
Foreseen end date
31 March 2010

Description

Lenovo, the China´s largest PC manufacturer, has announced to cut 2,500 jobs (i.e. 11 % of the total personnel) due to the global financial crisis. The restructuring plan envisages cost savings amounting to USD 300 million by the end of March 2010. The company also considers a decrease in wages for managers by 30–50%.

Sources

  • 9 January 2009: Hospodárske noviny

Citation

Eurofound (2009), Lenovo, Internal restructuring in World, factsheet number 67772, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67772.