New Delhi: Global technology brand Lenovo has reportedly started laying off employees, as its PC business suffers significantly amid economic downturn.
According to a report in CRN, the job cuts at Levono are “part of a roughly $115 million cost-cutting plan”.
Lenovo CEO Yang Yuanqing had informed in February about a coming “workforce adjustment” as part of a broader reduction in spending.
The company had about 75,000 employees at the end of its 2022 fiscal year.
“Like our CEO Yuanqing Yang said at our most recent quarterly earnings announcement, we are reducing operational expenses and making workforce adjustments where necessary and appropriate,” a company spokesperson said in a statement.
“We continue to invest in the areas that accelerate growth and the overall transformation of the company,” the spokesperson told WRAL TechWire.
