Taiwan's Acer to cut 300 Europe jobs after losses

It also said it would slash by more than half its forecast sales of tablets as it struggles to compete in the busy market with leaders such as Apple and Samsung.

"The planned layoff of 300 staff will be carried out in the next few months," company chairman JT Wang said at an annual shareholder meeting in Taipei, adding that bonuses for staff and board members would also be slashed.

Wang's comments came after Acer this month announced an unexpected one-time write-off of $150 million to clear inventory and disputed accounts receivable in its Europe, Middle East and Africa operations.

In March chief executive officer Gianfranco Lanci resigned citing differing views over the future of the firm as it faces slowing demand for PCs.

After Wednesday's meeting, Wang also cut its target tablet sales to 2.5-3 million for 2011, well down from its forecast of 5-7 million given early this year.

(c) 2011 AFP