Lenovo Group Ltd (992: HK) will cut costs by $ 1.35 billion.

13.08.2015 / 13:30

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Yuanqing Yang, Chairman & CEO Lenovo, announced that it stands for 3,200 employees of non-manufacturing units of the company around the world. The total number of staff Lenovo has about 60,000 people. According to the statement of Yang, this action will affect only 5% of full-time staff and is part of a vast program to reduce the cost of the group in the second half of 2015. The target of the program is to reduce the cost to $ 1.35 billion., 1 year. These are part of the management measures against the declining performance in recent months.

The price of shares of Lenovo Group Ltd (992: HK HONG KONG), after the peak in May 2015 in a strong downtrend in Current price: 7.70HKD. The last intraday decline was -0.77 HKD (-9.09%), close to the lowest level 52WK RANGE = HKD 7.65 - HKD 14.30; and 1 YR RETURN = -30.71%.

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Lenovo Group Ltd (992: HK) will cut costs by $ 1.35 billion.

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