The Downsized Diaries

My journey to my next career.

Lenovo top management shares in ‘resource deployment’ pain :: WRAL.com

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Posted: Today at 7:57 a.m.

MORRISVILLE, N.C. — Lenovo’s “resource deployment plan” sounds just like “resource action” at IBM – restructuring and layoffs. However, there’s one thing Lenovo didn’t inherit something from Big Blue when it acquired IBM’s PC division for more than $1 billion back in 2005. The Chinese founders and U.S. investors who control the company are making sure management pays the price for lack of performance.

While 11 percent of Lenovo’s global work force – including a couple hundred among the 1,700 at the global headquarters campus in Morrisville – hit the street, they aren’t the only ones who will be feeling the pain. Lenovo said top managers’ compensation will be cut from 30-50 percent.

That slash in pay is a stunning rebuke for Chief Executive Officer William Amelio and the other top managers he hand-picked to lead Lenovo after he bolted Dell for the top spot at the world’s No. 4 PC-maker in December 2005.

via Lenovo top management shares in ‘resource deployment’ pain :: WRAL.com.

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Written by Krista Summitt

January 8, 2009 at 12:43 pm

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