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|13th August 2015, 14:23||#1|
Join Date: May 2010
Lenovo decimates white collar workers
Lenovo is planning to go the way of the old Roman legions and decimate more than 10 percent of its white collar workers. Not that that the Romans had white collar workers and Lenovo is not planning to beat its workers to death.
The outfit said that it will have to lay off 10 percent of white collar staff after sales of Motorola handsets fell by a third.
This raises doubts over the personal computer giantís bet that a money-losing brand it bought for nearly $3 billion will help it become a global smartphone leader.
In fact, many wonder why Lenovo is not putting its rather nice smartphones on the market in the EU and is depending on its Motorola brand instead.
Lenovo said its quarterly net profit was halved as its mobile division lost nearly $300 million. Lenovo, which uses the US dollar in operations rather than the devalued Chinese yuan, said it plans to cut about 3,200 non-manufacturing jobs with a one-time cost of $600 million.
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