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LG to Trim Expenses by $2.2 Billion

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Feb 9, 2009, 11:01 PM   by Eric M. Zeman   @phonescooper

In response to the current economic situation, LG Electronics said that it is looking for ways to reduce expenses. Rather than consider layoffs or slashing capital expenditures, it hopes to save about $2.2 billion by reducing manufacturing costs and trimming unnecessary expenses. LG Electronics, parent company of LG Mobile, said that the company will invest in products that have potential for growth in the future, such as solar power. LG did not say that it would slow down plans to roll out new products, such as its mobile phones.

more info at Wall Street Journal »



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Props to LG... sechler411 Feb 10, 2009, 11:33 AM
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