Lenovo to Cut 1,400 Jobs Worldwide

The company will cut 1,400 jobs globally which will represent another 5% decrease. The cuts are expected to save the company roughly $100 million USD during the 2007-2008 fiscal year. The company will also take a pre-tax restructuring charge of between $50 to $60 million USD for its first fiscal quarter which ends on Jun 30, 2007.

I’m not a businessman, but laying off people while the company is doing real well doesn’t seem to make much sense. Of course, each one of these employees earned near $70K per annum, so that’s a huge savings for the excess slack. Still, this is a huge burn to all those loyal employees (who will now buy Dells out of spite).

Source: Daily Tech