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Wistron launches restructuring initiative to seek growth

Wistron launches restructuring initiative to seek growth

Taipei, June 26 (CNA) Taiwan's Wistron Corp. (??), one of the world's largest contract laptop makers, said Friday it had started an internal initiative to cut costs and reallocate its workforce in a move to turn its business around. The initiative, launched earlier this year, is aimed at changing the ways of thinking and utilizing information that Wistron employees have applied to achieve their success in the past, said Wistron Chairman Simon Lin (???). "We are considering to create a really competitive foundation for the next five to 10 years," Lin told a meeting with shareholders. Wistron reported a net profit of NT$3.579 billion (US$113.5 million) for 2014 on consolidated revenue of NT$592.35 billion, which translated into nine-year-low earnings per share of NT$1.5. The company's revenue declined around 5 percent due to the decreased shipment quantities of notebooks and smartphones. However, its net profit declined more significantly due to the considerable increase of 25 percent in manufacturing expenses compared with the previous year. Wistron counts Hewlett-Packard Co., Dell Inc., Lenovo Group Ltd., Sony Corp. and Taiwan's Acer Inc. (??) among its notebook customers, according to local media reports. Wistron shares were flat at NT$22.75 as of 10:50 a.m. Friday on the Taiwan Stock Exchange. (By Jeffrey Wu)


Updated : 2021-09-28 13:23 GMT+08:00