Motorola plans to lay off another 4,000 employees, mostly from its Mobile Device business, and to report revenue for the fourth quarter of 2008 that would fall short of analysts' current estimates.
The workforce cuts at the troubled handset, networking and enterprise wireless company will come in addition to the 3,000 layoffs announced during last year's final quarter. Motorola, once the world's second-largest cell-phone maker, has been struggling since its Razr handset faded from popularity.
About 3,000 of the jobs will be cut from the handset business, with the other 1,000 coming from corporate functions and other business units, Motorola said Wednesday. The cuts will slash Motorola's annual costs by an additional US$700 million in 2009. Along with the earlier announced layoffs and some other cost-cutting steps, the company said it will realize savings of $1.5 billion this year.
Thursday, January 15, 2009
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