Chinese PC maker Lenovo has announced plans to cut 450 jobs in its global function departments in China and most of the adjustments are expected to be completed before the end of March 2009.
Lenovo says starting from this week, Lenovo will communicate with the affected employees. The group will offer career consulting, occupational conversion counseling and re-employment support to these employees to help them complete the transition.
Yang Yuanqing, CEO of Lenovo, says the company will continue to build its leading position in the world. Facing the global financial crisis, it must take decisive actions to cut costs related to its global function, so as to maintain its competitive advantages and improve efficiency. He says although the company's business in China maintains advantages, its global functional departments located in China will still be affected. It is a hard decision to make, but it is a necessary measure to handle the worldwide economic downturn.
According to Lenovo, this resource adjustment plan aims to further improve the company's overall operating efficiency in the situation of worldwide economic slowdown and maintain the competitive strength of the company. Through this plan, Lenovo will reduce redundant costs and optimize the process of its core business.