Lenovo moves AP HQ to Beijing
Published: Jan 13, 2009
Singapore - Lenovo said it will shift its Asia Pacific headquarters to Beijing under a massive restructuring plan that will see some layoffs here.
The restructuring will see all Lenovo subsidiaries in the region except Australia, New Zealand and Japan, being managed out of the company's Beijing office. The company said the move comes as part of its decision to consolidate its mainland and Asia Pacific operations and remove duplicated job functions.
The Singapore headquarters will be transitioned from Singapore to Beijing, a Lenovo spokesperson told BizIT. This will lead to retrenchment of local staff holding Asia Pacific responsibilities, but will not impact those with local and ASEAN portfolios, the paper said.
Lenovo has approximately 200 employees in its Singapore headquarters, which has been in existence since May 2005. The retrenchments will be part of the previously announced retrenchment of 11% of its global workforce, or 2,500 positions over the next two months.
The company said it will also reduce executive salaries by as half to cope with the worsening global economy.
The reorganisation is expected to help save approximately US$300 million for Lenovo in its 2010 financial year ending March 21.
- Lenovo Singapore Pte Ltd