Moto to Take $101M Charge
In a filing with the Securities and Exchange Commission (SEC) Thursday, the company said the staff cuts were related to both the 4,000 job losses announced at the end of May and the previously announced, and separate, workforce reduction of 3,500 staff. (See Moto Cuts Another 4,000.)
Motorola says all three of its business segments -- Mobile Devices, Networks and Enterprise, and Connected Home -- as well as "various corporate functions, are impacted by these plans." The majority of staff hit by the second-quarter cuts are in the U.S., Germany, and Canada.
Motorola expects further charges throughout 2007 as it continues to lay off more of the 4,000 staff that are being cut in the latest round of job losses.
— Ray Le Maistre, International News Editor, Light Reading