Lenovo said on Thursday “severe challenges” in its main markets have forced it to make job cuts worldwide. The news came as the company reported quarterly financial results that missed expectations.
The Chinese company said it intends to shed 3,200 jobs, equal to 10 percent of its non-manufacturing global workforce and 5 percent of the entire company. The news comes off the back of a 51 percent drop in year-on-year quarterly profits that totaled $105 million. Revenue was up 3 percent to $10.7 billion, but this was still below what the market had been expecting.
