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Lenovo Trims Workforce

Stock quotes in this article: IBM , DELL  

Lenovo Group, the world's No. 3 PC maker, will cut about 1,000 jobs, or 5% of its workforce, and move its headquarters to Raleigh, N.C.

The move will save Lenovo about $250 million and bring its cost structure in line with its competitors, the company said.

"These steps position Lenovo as a more effective global competitor while supporting our commitment to lead in innovation and customer satisfaction," CEO William Amelio said in a statement. ...

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