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LG to Trim Expenses by $2.2 Billion

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

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.

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Comments

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This forum is closed.

sechler411

Feb 10, 2009, 11:33 AM

Props to LG...

for trying to find other ways to reduce expenses, instead of laying off half off your employees.. i applaud you LG

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