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Lenovo to lay off over 3,000 employees

  • Chinese technology giant Lenovo said that it was laying off 3,200 employees following a disappointing last quarter of business.

    The job cut, which will be conducted in the company's non-manufacturing work force, accounts for about 10 percent of the non-manufacturing headcount and five percent of its total employees globally, a company statement said.

    Lenovo saw profits attributable to its equity holders slump 51 percent year on year to $105 million for the three months through June, or the first quarter of the company's fiscal year 2015/2016. (Source: IANS)