Skip to main content

Lenovo to lay off 3,200 workers ! Wil talent go to lenovo now?

Chinese computer and smart phone company, Lenovo, is set to lay off 3,200 employees due to the disappointing decrease of profits last quarter.
Lenovo said that the cut will reduce five percent of its employees globally and ten percent of its non-manufacturing staff in a move that would reduce its wage bill by an estimated $1.35 billion per year.
The news emerged after Lenovo published its results for the first quarter which saw operating profit down by more than 51 percent year-on-year to reach $105 million.
The company reported a three percent rise in revenue of $10.7 billion on the same period last year, but experts say that the significant decrease in demand for Lenovo computers worldwide before the release of windows 10 and currency fluctuation dragged the firm down.
“Last quarter, we faced perhaps the toughest market environment in recent years. To build long term, sustainable growth; we must take proactive and decisive actions in every part of the businesses. “Said Yuanqing Yang , Lenovo CEO and Chairman in a statement.
The world’s biggest PC-maker, said this move to cut down on staff was part of the plan set up to save money in the remainder of 2015.
In addition to the layoffs, Lenovo will write off $300 million in unsold smartphones, and spend $600 million to restructure its smartphone businesses so that Motorola and Lenovo are more strategically aligned.
Sources in  Lenovo Nigeria told BusinessDay that they had no idea about the staff cuts.
“I am just hearing this news for the first time, I have no idea what that decision means but for now, we have not heard anything and it is not affecting us here at Lenovo Nigeria.” a Lenovo staff said.
“Lenovo phones, laptops and tablets sell like hot cakes in Nigeria. I sell about ten or more per day, I wonder why they are recording low sales and decline in profits. Maybe they are referring to sales in China or Europe and other more developed countries were they have higher and more advanced popular technology like apple. In Nigeria, most people go for the cheaper Android phones as long as it gives us the same functions as most of these more advanced smartphones,” Said the Commercial Director at CF Mobile Nigeria, Subomi Sodipo.
In October last year, the company bought Motorola from Google in order to boost its position in the smartphone industry. However this seemed not to be a smart move as reports show that its contribution to the smartphone’s shipment fell 31 percent from a year earlier to 5.9 million units.
 http://businessdayonline.com/2015/08/struggling-lenovo-to-lay-off-3200-workers-to-save-1-35b-annually/

Comments

Popular posts from this blog

What needs to be in content that attracts traffic on social media and elsewhere

In a world where content is king, a large volume of high-quality, shareable content is required to build credibility, brand reputation, and grow your digital presence. However, successful content marketing is not measured in the amount of output you produce, but in how well your audience responds to your output, including how often they share it. After all, the more fans and followers who feel compelled to share your blog piece, Facebook post, infographic, video, image, etc., the more value that content inherently adds to your brand.  So, what makes great content share-worthy? Unfortunately, there’s no defined formula for successful viral marketing, but there are several significant similarities between the most popular pieces of content that compel viewers and readers to click ‘Share’. Want to make your content more share-worthy? Here’s a checklist of things irresistibly shareable content should offer your audience: 1. Industry Relevance
2. A Great Hook
3. Controversy
4. Solutions or …

Can Herbalife 'Afresh' cause insomnia(sleeplessness) and heart problems?

Here is another "great" product from Herbalife. Marketed as an ENERGY drink mix. Few people know it contains Gurana seeds which have no active compound giving artificial energy other than caffeine. Afresh also contains additional caffeine

Ingredients of Herbalife Afresh Energy Drink Mix:
Maltodextrin, Orange Pekoe Extract, Guarana Seed Extract, Acidity Regulator - 330 and Caffeine Powder.

http://mall.coimbatore.com/bnh/herbalife/afresh-energy-drink-mix.htm

http://products.herbalife.co.in/energy-and-fitness/afresh-energy-drink

Side effect include insomnia, sleeplessness and heart problems, It is especially harmful for people with High blood pressure.

http://www.medicinenet.com/caffeine_tablets-oral/article.htm

FDI in India Advantages and Disadvantages

Overview First of all, FDI means Foreign Direct Investment which is mainly dealings with monetary matters and using this way they acquires standalone position in the Indian economy. Their policy is very simple to remove rivals. In beginning days they sell products at low price so other competitor shut down in few months. And then companies like Wall-Mart will increase prices than actual product price. They are focusing on national and international economic concerns. There are four main working pillars of FDI. They are financial collaborations, technical collaborations and joint ventures, capital markets via Euro issues, and private placements or preferential allotments. There are two types of FDI, one is inward FDI and second is outward FDI. Ongoing news suggests that largest retailer Wal-Mart has demanded for 51% of international dealings in FDI in Indian markets which had called nationwide strike. From positive and negative aspects FDI has its own advantages and disadvantages.

Mus…