Motorola Lays Off 4,000 in Search for Missing Profit
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Motorola Inc. said Wednesday it would lay off 4,000 more workers as the Illinois-based company works to improve its financials.
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As Motorola considers spinning off its cell phone business, CNET takes a look at the company's hits and misses.
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Sprint Nextel, the No. 3 U.S. mobile service, said it will cut about 4,000 jobs and predicted further pressure on its ability to turn a profit in 2008.
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Motorola (Quote, Chart) said it would cut 1,000 jobs, a move prompted by the spinout of its Freescale Semiconductor (Quote, Chart) subsidiary.
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The announcement comes after Sprint last week reported deeper-than-expected customer losses for the fourth quarter and said it would cut about 4,000 jobs in a bid to reduce costs.
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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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NEW YORK - Like a boxer shedding pounds to get to his fighting weight, Motorola is trimming down to take on the mobile phone market, shedding jobs and spinning off divisions.
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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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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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RAZR phones fail to slice into new markets Motorola has announced another round of layoffs - 4,000 to add to the 3,500 jobs it slashed in January.â¦
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Motorola Inc. is weighing the possible sale of its mobile unit after the company saw sales of its phones and other devices drop 33% during the last year.
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Motorola mulls breaking up its business as it battles to recover from losses and weak sales.
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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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Motorola Inc. will cut 1,000 jobs worldwide and take a charge of $50 million for severance benefits, officials said Tuesday.
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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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Motorola Inc  said on Wednesday  it will post an operating loss in the current quarter as its  cell phone business is taking longer than expected to turn  around, dashing Wall Street hopes for a profit and sending its  shares down 20 percent.
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Motorola, the world's second largest mobile phone maker, is cutting 1% of its workforce but its core mobile phone operations will be unaffected.