Global PC manufacturer Lenovo has announced that it is to axe 50 jobs at its US headquarters. But sources told China Business News that the company has no plans to reduce staff in its Greater China or Russia divisions, due to their outstanding economic results. The company also said it plans to offer 200 jobs to graduates in China this year.

According to Morgan Stanley, sales volumes of all major PC companies are likely to fall as a result of global financial turbulence. Ye Lei, chief hardware analyst at Gartner China said the impact of the economic recession on the PC industry would be seen as early as the third quarter.

"Due to the financial turmoil, the international outlook is not good, and this has put the IT industry in a difficult position," a Lenovo source said.

Earlier, HP and Dell, both global PC manufacturers, announced cutback plans. HP plans to reduce its workforce by 24,600 worldwide.

According to its first quarter financial report, Lenovo has 23,200 employees worldwide of which 16,572 in China.

For more details, please read the complete story in Chinese:

(http://www.china-cbn.com/s/n/000004/20081023/020000091639.shtml)

(China.org.cn by Xiang Bin October 23, 2008)