Lenovo lays off 2500 of workforce

The Chinese computer manufacturer Lenovo is forced to lay off large parts of its global staff. The company plans to lay of a total of 2500 employees, which represents around 11% of the company's employees. Many managers of the company will have their salaries reduced by between 30% to 50%, a report on idg indicates. Lenovo will spend $150 million in a restructuring program to streamline the company. Lenovo aims to save $300 million during its upcoming fiscal of 2009/2010.