Lenovo plans job cuts

Stefan Mileschin · 21st February 2023, 07:37

Profits fall on the back of reduced PC sales

The Financial Times reports that Lenovo is planning to cut jobs after seeing its net profits fall for the first time in almost three years.

According to Lenovo's fiscal year third quarter report, "revenue declined by 24 per cent year-on-year to US $15.3 billion."

The outfit’s Intelligent Devices Group (IDG), which includes computers, smartphones, tablets, and other hardware saw its revenue fall by a third and operating profit fell by 37 per cent year-on-year.

The company's report states that PC sector shipments "regressed to pre-COVID levels" while there was still too much product in the channel, though Lenovo claims IDG still maintained its leadership in market share.

https://fudzilla.com/news/pc-hardwar...plans-job-cuts

21st February 2023, 07:37	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 153,575	Lenovo plans job cuts Profits fall on the back of reduced PC sales The Financial Times reports that Lenovo is planning to cut jobs after seeing its net profits fall for the first time in almost three years. According to Lenovo's fiscal year third quarter report, "revenue declined by 24 per cent year-on-year to US $15.3 billion." The outfit’s Intelligent Devices Group (IDG), which includes computers, smartphones, tablets, and other hardware saw its revenue fall by a third and operating profit fell by 37 per cent year-on-year. The company's report states that PC sector shipments "regressed to pre-COVID levels" while there was still too much product in the channel, though Lenovo claims IDG still maintained its leadership in market share. https://fudzilla.com/news/pc-hardwar...plans-job-cuts

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