BEIJING (AP) — Lenovo Group, the world's fourth-largest personal computer maker, said Wednesday it will eliminate 450 positions in China to cut costs in response to the global economic turmoil.
The cuts are among 2,500 jobs that Lenovo announced last month it would eliminate worldwide, said company spokesman Anthony Feng.
"In the face of continued global economic crisis, we must act decisively to reduce costs associated with global staffing and support functions to ensure our competitive strength and continue our effort to improve efficiency," Lenovo Chief Executive Yang Yuanqing said in a statement.
Lenovo reported Feb. 5 that it lost $96.7 million in the three months ending Dec. 31 due to a 20 percent drop in sales. The company announced a restructuring and job cuts after profit fell the previous quarter.
Lenovo says it has been hit harder than competitors by the global slowdown because of its reliance on corporate customers, who have cut spending more sharply than consumers.
The company has said it expects to record a $120 million charge for its restructuring, probably in the current quarter.
Lenovo Group: www.lenovo.com
Copyright 2009 The Associated Press.