Acer CEO to resign, 7% of employees to be terminated in restructuring

|By:, SA News Editor

Acer (ASIYF) CEO J.T. Wang will resign, to be replaced by president Jim Wong, as part of a corporate restructuring in the face of ballooning losses. Wong will take over at the start of next year.

Acer will cut its workforce by 7% as part of the restructuring with the aim of saving $100M annually. The company will take a one-time $150M charge due to the lay offs.