Lenovo Cuts Workforce

Citing the economic downturn, Chinese computer manufacturer Lenovo is cutting 2,500 jobs worldwide.

Chinese computer manufacturer Lenovo is cutting around 11% of its global workforce, around 2,500 jobs, citing the economic downturn as the reason, as it tries to save $300 million in the coming year, the BBC reports.

Chief executive William J Amelio said:

"As hard as this news is for all of our Lenovo employees, we believe the steps we are taking today are necessary for Lenovo to compete in today’s economy."

The company’s profits dropped 78% in the three months until the end of September, and it expects to report losses for the final quarter. In a statement, Lenovo said "the unprecedented global economic challenges facing the world, resulting in a reducing demand for personal computers and related products."