Motorola says to cut 4,000 more jobs
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Motorola Inc. , the world's second-biggest mobile phone maker, said it expects to cut an additional 4,000 jobs, bringing the total to 7,500 this year, as it works to reduce costs to return to profit.
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Motorola Inc  expects revenue  and bottom-line improvements for its mobile devices business in  the fourth quarter compared with the third quarter, a top  executive for the company said on Thursday.
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Sprint Nextel Corp  reported  deeper than expected subscriber losses on Friday and said it  would cut about 4,000 jobs, sending its shares down 26 percent  and raising fears that an economic slowdown would take a  greater toll on the wireless industry .
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Motorola will cut an additional 4,000 jobs as the mobile phone maker tries to cope with tough global competition.
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Motorola&#39;s mobile-phone business continued to lose its signal in the fourth quarter, dragging the company&#39;s revenue and profit down.
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Motorola may spin off its handset business, the weakest part of a wireless giant that has seen hard times and a management shakeup in recent months.The company is &quot;exploring the structural and strategic realignment of its businesses to better equip its Mobile Devices Business to recapture global market leadership and to enhance shareholder value,&quot; Motorola said in a statement Thursday. &quot;The company&#39;s alternatives may include the separation of Mobile Devices from its other businesses.&quot;The handset unit has had trouble coming up with a successor to the popular Razr phone, and in last year&#39;s third quarter it fell to third place in worldwide sales behind Samsung. But spinning off the division, which forms the largest part of Motorola&#39;s business, would be a drastic move.Motorola had 13 percent of the worldwide handset market in last year&#39;s third quarter, down from a 21 percent share a year earlier, according to Gartner. Samsung had 15 percent and Nokia 38 percent.Thursday&#39;s announcement doesn&#39;t guarantee the handset business will be spun off. CEO Greg Brown said in the statement that Motorola was exploring ways in which the unit can recover faster and retain and attract talent, plus help shareholders &quot;realize the value of this great franchise.&quot;In its fourth-quarter results announced last week, Motorola said the Mobile Devices Business lost $388 million on revenue of $4.8 billion, down from a profit of $341 million on revenue of $7.8 billion a year earlier. Fourth-quarter sales were up in both the Home and Networks Mobility group, which makes set-top boxes and wireless infrastructure, and in Enterprise Mobility, which benefitted from&#160;Motorola&#39;s acquisition of Symbol Technologies&#160;early last year.Motorola as a whole lost $49 million for the year.&#160;CEO Ed Zander stepped down in late November, replaced by Brown.
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Sprint Nextel , the No. 3 U.S. mobile service, said on Friday it will cut about 4,000 jobs and close about 8 percent of its stores, predicting further pressure on its ability to attract subscribers and turn a profit in 2008.
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Motorola&#39;s mobile-phone business continued to lose its signal in the fourth quarter, dragging the company&#39;s revenue and profit down.The Schaumburg, Illinois, company has had trouble coming up with a phone to match the success of its original Razr, which is now several years old and does little for the company&#39;s bottom line. Motorola&#39;s Mobile Devices unit had sales of $4.8 billion in the fourth quarter, down from $7.8 billion a year earlier, and the division lost $388 million compared with profit of $341 million in last year&#39;s fourth quarter.Stronger results with enterprise and home-network products eased Motorola&#39;s pain, but the company still reported a steep fall in profit for the quarter and a loss for the full year 2007. In the fourth quarter, Motorola had net income of $100 million and earnings per share of $0.04, down from $529 million or $0.25 a year earlier. The company lost $49 million or $0.02 per share for the year. Companywide, revenue in the quarter fell to $9.6 billion from $11.8 billion a year earlier.The outlook for the current quarter is no better. Along with Wednesday&#39;s earnings report, Motorola forecast a loss of between $0.05 per share and $0.07 per share, excluding charges associated with its cost-reduction initiatives and other items.&quot;The recovery in Mobile Devices will take longer than expected and there is a lot more work to be done,&quot; CEO Greg Brown said in a prepared statement. The company&#39;s &quot;primary focus&quot; is to improve profits and enhance its mobile products, he added. Motorola is also focused on reducing costs and took several steps to make the Mobile Devices business more efficient, he said.Once locked in a struggle with Nokia for cell-phone sales leadership,&#160;Motorola had fallen to third place&#160;behind Samsung by last year&#39;s third quarter. Last May, when it introduced the Razr&#39;s successor, called the Razr2, the company said it hoped the new device would cut losses. But tough times have continued in the face of Apple&#39;s iPhone and other high-profile competitors, and in late November,&#160;CEO Ed Zander was replaced by Brown.Fourth-quarter sales were up in both the Home and Networks Mobility group, which makes set-top boxes and wireless infrastructure, and in Enterprise Mobility, which benefitted from Motorola&#39;s acquisition of Symbol Technologies early last year. The home business saw sales rise 11 percent to $2.7 billion, though its profit fell to $192 million. Profit in the home business soared to $451 million from $323 million in the fourth quarter of 2006, while sales were up 35 percent to $2.1 billion.In midday trading Wednesday, Motorola&#39;s shares on the New York Stock Exchange were down $2.32 to $10.00 amid a generally weak day on Wall Street.
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The Bank of America Corporation said yesterday that it would cut an additional 4,500 jobs from its ranks, beginning this month, as it simplifies operations.
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Cell phone maker Motorola Inc. on Wednesday said net profits fell 84 percent in the fourth quarter and warned that the recovery in its struggling handset unit will take longer than expected.
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Telecommunications equipment maker  Motorola Inc. MOT.N said on Tuesday that it would cut 1,000  jobs and take related charges of about $50 million to focus on  its wireless business.
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Motorola Inc  is aiming to cut its quarterly research and development expenses for mobile devices by about 15 percent by the end of 2007 to try to return to profitability.
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US mobile phone giant Cingular announces plans to cut about 7,000 jobs in the next 12 to 18 months.
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Sprint Corp. (FON.N: Quote, Profile, Research) on Friday said it plans to cut up to 700 jobs as it realigns its business to focus on wireless and Internet services and takes a non-cash network impairment charge.
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Bank of America said Thursday that it would cut an additional 4,500 jobs from its work force, increasing the number pared since its acquisition of FleetBoston Financial by 36 percent, to 17,000.
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The company said it would cut 3,000 jobs, or 4.6 percent of its global work force, to ensure future profit growth as generic competition hurts sales.
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(InfoWorld) - A troubled Motorola has realigned itself as its criticalÂ cell-phone business slows down. The company sketched out the reorganization in a U.S. Securities and Exchange Commission filing Tuesday, two days before it is set to announce its second-quarter financial results. Last week, Motorola slashed its earlier revenue forecast for the quarter and predicted a larger loss, blaming lower phone sales. It also named a new chief of its mobile unit, Stu Reed. Other recent changes in the executive ranks have also rocked the company. Motorola is now split into three divisions: Mobile Devices, Home and Networks Mobility, and Enterprise Mobility Solutions. The company is moving its Good Technology mobile e-mail software business from the Mobile Devices division into Enterprise Mobility Solutions. Its carrier equipment business has been combined with home broadband products in the Home and Networks Mobility segment with the new enterprise unit focusing on private network products. The Home and Networks Mobility group is responsible for set-top boxes and digital video systems for carriers, home DSL and cable modems, and wired and wireless broadband network gear. The Enterprise group encompasses analog and digital two-way radio and other voice and data communications systems for government, businesses and Motorola's large public safety customer base. Good Technology, whichÂ Motorola acquiredÂ in a deal completed in February, is a mobile messaging platform with enterprise features like centralized lockdown of unwanted applications on the phone. It competes against Research in Motion's BlackBerry system and Nokia's Intellisync technology. After the rousing success of the slim Razr handset, which started out as a premium-priced bauble and quickly became a mass-market commodity, Motorola has had trouble coming out with an encore. A Razr 2 is expected later this year. New handsets from Nokia, Samsung, and LG Electronics had stolen the spotlight even before Apple's iPhone, which debuted June 29, became the talk of the industry. Meanwhile, sales for all makers have stagnated in higher-priced markets like North America and Europe while rising in lower-priced India and China, according to industry analysts. Last Wednesday, Motorola said it expected to report 35 million to 36 million handset sales in the second quarter, down from 45.5 million in the previous quarter. Its revenue forecast dropped from $9.4 billion to between $8.6 billion and $8.7 billion. The company now expects to lose between $0.02 and $0.04 in the quarter.