Lenovo to cut five per cent of workforce

16 March 2006 – Purchase (NY): Lenovo has announced plans to cut about 1,000 jobs, or 5 per cent of its workforce, to slash costs following the acquisition of IBM last year.

The world’s third-largest computer maker said the lay-offs are part of a restructuring plan to save some $250 million a year, and expects to complete the changes in six to 12 months.