Acer shares opened down 6.9 percent, the maximum allowed in a session, at T USD 16.9, in a broader market that was up 0.2 percent.

Citi cut Acer's target price to T USD 13 after the announcement, saying the restructuring efforts could not change the PC company's outlook structurally, but reducing operating expenses through headcount reduction could buy time for management to reposition its business model.


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