William Amelio, chief executive officer at , said Sunday that no more layoffs are planned at the world’s No. 4 PC-maker.

In an at a conference in Saudi Arabaia, Amelio said: “We don’t plan further layoffs.”

Lenovo recently announced plans to cut 2,500 jobs after a poor fourth-quarter earnings report and in the face of statistics showing a decline in global market share. Lenovo’s global headquarters are in Morrisville, but most of its operations are in China.

“I’m confident that with what we’ve done right now, we have been able to get ourselves efficient,” Amelio told Reuters.

He also said Lenovo continued to look for possible acquisitions and reiterated a point he has made in recent interviews – there will be consolidation in the PC manufacturing market.