Acer has reported a $446 million operating loss for the last quarter, a figure that's much worse than had been predicted. In response, its CEO and Chairman J.T. Wang is resigning his post.
Separately Acer said it would be slashing about 7% of its workforce to cut costs—a move it hopes could save as much as $100 million. When Wang steps down from his role, after accepting blame for Acer's string of losses, current president Jim Wong will take over as CEO.
Acer was an early champion of the netbook revolution, outselling Asus and its genre-defining range of EEE PCs at one point. But the netbook fuss quickly died, and the entire PC industry is in turmoil as the onslaught of tablet computers continues—led by the fearsome iPad. I'm going to say that Acer's headline-making loss is yet another sign that the era of the PC is coming to an end, just as recent figures show the demand for PCs is at its lowest since 2008.