Lenovo To Cut 1,000 Jobs, Move Headquarters

March 16, 2006
Lenovo Group, the world's third largest personal-computer company, said March 16 it would cut 1,000 jobs, or about 5% of its global workforce, as part of cost-savings plan. The Chinese company with its headquarters in the U.S. said it would also move its ...

Lenovo Group, the world's third largest personal-computer company, said March 16 it would cut 1,000 jobs, or about 5% of its global workforce, as part of cost-savings plan. The Chinese company with its headquarters in the U.S. said it would also move its corporate operations from Purchase, New York, to Raleigh, North Carolina. The company expects to complete the restructuring within six to 12 months and hopes to save $250 million in operating costs.

The company gave no geographic breakdown of its job cuts but said they would be in the Americas, Asia-Pacific and Europe, Middle East and Africa regions.

The move will integrate sales service and customer support operations. It will also move the global supply chain closer to manufacturing and suppliers. The desktop PC division will be centralized in China for increased efficiency, Lenovo said.

Last year, Lenovo bought IBM's PC division for $1.25 billion, keeping the right to use the IBM name on its computers.

Copyright Agence France-Presse, 2006

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Achieving Maximum Value in Industry 4.0 with Intelligent Asset Management

June 27, 2022
Achieving Maximum Value in Industry 4.0 with Intelligent Asset Management.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!