Motorola lays off 4,000 in search for missing profit
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In an extension of a cost-cutting program it began in January, Motorola said Wednesday it would lay off 4,000 more workers.
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Motorola Inc., the world's No. 2 maker  of cell phones, on Tuesday said it would cut 1,000 jobs in  three of its units as it puts its effort behind wireless  communications in an increasingly competitive market.
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Motorola mulls breaking up its business as it battles to recover from losses and weak sales.
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CHICAGO -- Wireless technology company Motorola Inc. said Thursday its profit plunged 94 percent in the third quarter, as sales fell substantially in its cell phone business and it narrowly averted a third straight quarterly loss.
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By Keiko Morris, Newsday, Melville, N.Y.  Sep. 20--Motorola Inc.
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Motorola Inc. , which has been losing market share amid criticism of its mobile phone line-up, on Thursday posted a quarterly loss as revenue fell amid weak phone sales.
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SEPTEMBER 28, 2004 (REUTERS) - Telecommunications equipment maker Motorola Inc. said today 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 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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Cell phone maker Motorola Inc. on Wednesday warned of a second-quarter profit and sales shortfall, blaming poor results in its mobile devices business in Asia and Europe. The company also said it no longer expects mobile devices &#151; its largest business &#151; to be profitable in 2007.
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Motorola Inc.  said it expects to cut an  additional 4,000 jobs as it continues to lower costs.
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Motorola Inc. is laying off 1,000 employees in conjunction with its upcoming chip unit spinoff and ongoing efforts to reduce operating costs, the company said Tuesday in a regulatory filing.
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The phone company reported a fourth-quarter loss of $11.1 million as it scaled back on marketing and cut other costs.
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The company says it will take a charge of 50 (m) million dollars for severance benefits. Motorola is completing a spinoff of its Austin-based chip operations, now operating independently as Freescale Semiconductor.
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(InfoWorld) - Two days after it restructured operations, MotorolaÂ on Thursday reported that flagging sales of mobile devices were a factor in its second-quarter loss of $28 million, or $0.01 per share. The telecommunications device maker posted income of $1.38 million, or $0.55 cents a share, one year earlier. Revenue declined by 19 percent to $8.73 billion from $10.82 billion one year earlier. The drop was expected: Motorola issuedÂ preliminary financialsÂ last week, warning that its results would be lower than had been forecast. The company said Thursday that excluding one-time costs, it would have earned $0.02 per share. Analysts surveyed by Thomson Financial, who revised estimates lower after last week's warning, were forecasting break-even results on sales of $8.64 billion. Layoffs and other one-time charges were responsible for losses amounting to $0.04 per share. But the loss for the quarter underscores the company's beleaguered mobile device business, which has been outflanked by rivals including Apple. The pressure will continue. Motorola announced that it expects earnings in the third quarter to be equal to or slightly higher than the second quarter, and that its mobile devices unit will probably not be profitable this year. The company saw a drop in mobile device sales in Asia, a hot market where vendors are trying to get a big share of the market in fast growing economies, as North American and European markets become saturated with mobile phones. Motorola has taken steps to address its problems. The vendor announced Tuesday that it's restructuring into three business divisions: Mobile Devices, Home and Networks Mobility, and Enterprise Mobility Solutions. It also has a new chief of its mobile unit, Stu Reed. Motorola CEO Ed Zander has beenÂ under pressureÂ to resign. He attracted criticism from big-name investor Carl Icahn earlier this year, and recently has been attacked by activist shareholder Eric Jackson for the way he's running the company. Although Motorola has taken steps to cut costs, a core challenge for the company is product design in the competitive handset arena. ItsÂ Razr deviceÂ was praised for its design, but in a fast-paced market quickly became an also-ran, under a barrage of products from rivals that in addition to Apple include Nokia, Samsung Electronics, and LG Electronics. Despite expecting mobile phone sales to be under increasing pressure, Motorola did say that it expected its overall financial results to improve during the second half of the year. Thursday morning, Motorola shares were trading at $18.18, up $0.18 from its opening. Â
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InfoWorld - The day after&#160;announcing that 4,000 employees will be laid off, Motorola CEO Ed Zander told investors that he plans to boost profits with a wide range of multimedia handsets instead of relying on a single blockbuster product like the Razr cell phone.
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Woes continue Despite a new CEO, there are no signs yet of a turnaround for Motorola. The company's mobile phone division recorded a shocking quarter, with the unit's revenues down 38 per cent year-on-year, losing $388m along the way. Motorola's mobile division recorded a $1.2bn loss in 2007.â¦
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The cellphone-network equipment maker said that it would cut up to 4,000 jobs, about 5.4 percent of its work force, after profit plunged 42 percent in the fourth quarter.