SEOUL | Thu September 8, 2011 10:17 pm EDT
Seoul (Reuters)-South Korean LG Electronics Inc on Friday denied a media report that he had cut staff overseas in its mobile telephone Division fighting for about 30 percent as part of broad-based reforms to turn the business of losing money.
The Korea economic daily reported in its early Friday edition that the layoffs involved mainly mobile marketing and acquisition of resources and the closure of certain unprofitable.
The report also said the company had similar plans for your home mobile business.
LG said the report was unfounded.
"We are always looking for opportunities to improve the performance of our mobile business but no decision was made to possible job cuts," said a spokesman for LG.
LG mobile phone manufacturer, the world no. 3, has recorded five consecutive quarterly losses of cell phone sales, with Cutthroat competition putting pressure on the company for a review of your business.
LG shares fell 2.9 percent 0210 GMT, compared the fall of 0.4 percent of the broader market.
(Reports by Miyoung Kim; Edited by Jonathan Hopfner)
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