Acer turns in big loss

acer-w3Taiwanese PC maker Acer said that it lost $274 million in the fourth quarter of 2013.

That includes a chunk of money set aside to pay for depreciated stock as well as a provision of money to lay off seven percent of its staff worldwide. Executives will have to endure a 30 percent reduction in their salaries from now on.

Acer has brought in retired founder Stan Shih in a bid to turn the company around – its sales fell by 16.2 percent in 2013 compared to the year before.

Most of its woes are caused by the decline in PC sales, and it appears from the stock write-off that applies to Windows based touch notebooks.