Lenovo reduced workforce by 5% amid PC slump: CEO

CFO cites different figures on personnel cuts for Q4

20230524N Lenovo

The slowdown in both the Chinese and global economy has cut into overall demand in the tech industry. (Photo courtesy of Lenovo)

KENJI KAWASE, Nikkei Asia chief business news correspondent

HONG KONG -- Lenovo Group, the largest PC maker in the world by volume, said Wednesday that it slashed about 5% of total headcount during the January-March period.

The substantial job cuts during the final quarter of the financial year ended in March came amid a lingering slump in the PC business, where the Chinese company recorded $249 million in restructuring costs.

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