Motorola to cut 1,000 jobs
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WASHINGTON (CBS.MW) -- Motorola plans to eliminate 1,000 jobs in connection with the spinoff of its semiconductor unit. Free! Sign up here to receive our Weekly Roundup e-Newsletter!
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Motorola Inc. MOT.N, 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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(InfoWorld) - In an extension of a cost-cutting program it began in January, Motorola said Wednesday it would lay off 4,000 more workers. The move will help the company to save $600 million annually starting in 2008, including additional money-saving measures like prioritizing its investments, continuing discretionary-spending controls, cutting general and administrative expenses, and site rationalization. Although it trails only Nokia in sales of wireless handsets, Motorola has struggled to translate its sales into profits. The company began this restructuring program after watching its profit drop sharply, from $1.2 billion in the fourth quarter of 2005 toÂ $624 million for the fourth quarter of 2006. The results were even worse for the first quarter of 2007, as Motorola posted a loss of $366 million compared to its profit of $849 million for the same period a year ago. In a search for change,Â the company replaced its CFO in March. At that time, chief executive Ed Zander blamed the problems on dropping prices for low-end cell phones, and Motorola's decision to give up market share instead of entering a price war with competing vendors. Also on Wednesday, Motorola said it would finish making the 3,500 job cuts it had previously announced by June 30, contributing to an estimated $400 million in annual savings. The restructuring will also incur its own costs. Motorola will subtract a one-time charge of $300 million from its savings, to pay for severance packages and other costs of the workforce reductions. "Today's actions are an update to the commitment we made during our first-quarter earnings conference call -- to drive out additional costs -- and a continuation of the plan we announced in January," Motorola'sÂ CFO Tom Meredith said in a release. Meredith promised the cuts would not distract Motorola from keeping its focus on long-term plans in customer service and support, product quality and research and development. Â
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Intel Corp. INTC.O, the world's   biggest maker of microchips, is expected to announce major job   cuts on Tuesday as part of a plan to trim $1 billion in costs   and regain its competitive edge, analysts and media reports   said.
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Motorola spokeswoman Jennifer Weyrauch said the cuts would be made worldwide &quot;to better align our work force&quot; and in anticipation of the separation of its chip operations, now operating independently as Freescale Semiconductor Inc.
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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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Siemens AG plans to cut 1,250 jobs in its wireline network business as it restructures the unit, the German engineering giant said Friday.
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With a view to focusing on its wireless business, Motorola Inc. said it plans to slash 1,000 jobs, or 1 percent of its staff, and absorb charges of about $50 million.
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Ministry of Defence to cut 1,000 jobs at London HQ and move 800 outside the capital, union claims.
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TORONTO -- Nortel Networks yesterday gave details of a previously announced job cut program, saying it is cutting 1,400 positions in the United States by next June.
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General Motors of Canada  will cut about 1,100 jobs at a truck plant in Ontario amid slumping pickup sales, the company said on Thursday.
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Motorola Inc. , the world&#39;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.  plans to trim an additional 4,000 jobs this year, bringing the total cuts for 2007 to more than 11 percent of its work force, as the world's No. 2 mobile phone maker reduces costs to return to profitability.
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Motorola Inc. Tuesday sliced about 1,000 jobs at its Schaumburg headquarters, Deer Park and elsewhere while posting hundreds of new jobs to strengthen its mission to produce seamless mobility products.
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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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Motorola Inc. will cut 1,000 jobs worldwide and take a charge of $50 million for severance benefits, officials said Tuesday. Motorola is completing a spinoff of its chip operations, now operating independently
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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.