Acer's third-quarter net loss worse than forecasts, CEO resigns

Taiwan's Acer Inc, the world's No.4 PC vendor, posted a worse-than-expected net loss of T$13.12 billion ($446 million) in the third quarter, with the company aiming to revamp itself with a new CEO and job cuts. The troubled company announced on Tuesday that President Jim Wong will succeed Wang as CEO, and that it will cut its global staff by 7 percent, a move aimed at saving operating expenses of $100 million annually from 2014. Acer said there was also an intangible asset impairment loss, which includes trademarks and goodwill, of T$$9.94 billion during the reporting period.

via Tech News Headlines - Yahoo! News http://news.yahoo.com/acers-third-quarter-net-loss-worse-forecasts-ceo-121215515--finance.html