Lenovo to Lay off 3,200 Workers to Cope with Fall in PC Market
(Beijing) – Electronics maker Lenovo Group suffered a 51 percent net profit decline in the second-quarter earnings this year, and announced plans for a major restructuring as it struggles with declines in market share.
Lenovo Group said in an unaudited financial report August 13 that it would lay off 3,200 white-collar workers. It reported second-quarter revenue reaching US$ 107 million this year, up 3 percent from the same period last year.
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