World Economy

Lenovo Cuts Jobs

Lenovo Cuts JobsLenovo Cuts Jobs

Chinese computer giant Lenovo has reported a steep drop in profits for the first quarter in its fiscal year starting in April, DW reported. The company said job cuts were unavoidable and so was an overhaul of its mobile business. Beijing-based Lenovo said Thursday it would have to cut 3,200 jobs globally from its non-manufacturing workforce as it struggled to generate more growth. Net profit fell by 51% in the three months to June, totaling $105 million.  The world’s biggest PC maker announced it would seek to slash costs by 1.35 billion annually to become more efficient.