Chairman of the board after last quarter 's below - expectations results . ` Although the integration of the IBM PC business for the past three years was a success , our last quarter 's performance did not meet our expectations , '' Yang Yuanqing , Lenovo 's chairman of the board , said in a statement . Job cuts to include management and executive positions . Company is ranked as the world 's No . 4 chip maker . Lenovo has annual pre - tax restructuring ##s of approximately $ 500 million .
Chairman of the board after last quarter 's below - expectations results . Job cuts to include management and executive positions . Company is ranked as the world 's No . 4 chip maker . Lenovo has annual pre - tax restructuring ##s of approximately $ 500 million .