East Asian OEM layoffs with global impacts bookend this Thursday. We had news this morning out of Taipei from HTC of a 15 percent cut in workforce, or roughly 2,400 positions. This evening’s news comes from Hong Kong and from Lenovo, where management has decided to eliminate just over 10 percent of its ranks of 60,000. Subsidiary company Motorola will end up taking a loss of 500 jobs, or a quarter of its current workforce.
Lenovo specifically cited challenges facing Motorola in Latin American smartphone markets as well as volatile economic conditions. Costs have ballooned [...]