Image via WikipediaThe world’s second largest PC manufacturer, Acer Inc, has decided to take a $150 million charge for writing off inventory and doubtful payments in Europe while giving up almost 300 jobs due to the after affects of the abrupt withdrawal of its CEO in March. According to an official statement released by the company on Wednesday, Acer declared that all of its internal audits have disclosed that "abnormalities in terms of channel inventory stored in freight forwarders' warehouses, and in accounts receivable from channels in Spain."
This write-off is an additional bad news for the company after the critical withdrawal of its former CEO, Gianfranco Lanci. Acer had first cut its first-quarter PC revenue on 24th of March, which led to a downfall of 18 percent in the stock price in four days, till the time when Lanci quit. Even before a month had passed, the company cut the second-quarters’ shipment predictions and asserted that the situation has even worsened with 64 percent of decline in the first-quarter net profit. The sales of April, 2011, steeply fell to 23 percent compared to last year.
