As part of its previously-announced cost-cutting plan, Lenovo has last week began to send out pink slips to European employees. Lenovo’s intention is to shed 550 positions in the region and refocus its PC business on lower-cost machines that appeal to emerging markets.
The Chinese-based company has earlier this month reported a $97 million loss for Q3 of FY 2008/09 and, according to its own estimates, it won’t be back to making a profit until 2010.
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