Motorola to Cut 1,000 Jobs
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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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Motorola Inc. MOT.N on Wednesday said  its No. 2 officer, who had been passed over for the chief  executive post, will resign at the end of January to seek a top  spot with another company.
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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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Stepping up an overhaul of its big technology services business, high-tech conglomerate IBM Corp. yesterday notified 1,570 employees worldwide that their jobs are being eliminated.
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International Business Machines cut about 1,570 jobs to help improve profit margins in its technology services unit.
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US wireless telecommunications firm Sprint Nextel announced it was cutting 4,000 jobs Friday, saying it anticipated "downward pressure" on its profits in the coming year.
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As it announced 23-percent decline in fourth-quarter profit, Yahoo also said it planned to cut 1,000 jobs from its 14,000-member work force, far more than expected.
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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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(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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Cell phone maker Motorola Inc. said Wednesday it will cut another 4,000 jobs as part of a plan aimed at improving sagging financial and operational results.
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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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Chrysler Group plans to cut 1,000  salaried jobs by the end of June, the first action under a  previously announced turnaround plan that targets a total of  13,000 job cuts, the automaker said on Friday.
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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  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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Hershey co.  on Thursday said it  would cut about 1,500 jobs and reduce the number of production  lines it operates by more than a third as it tries to  streamline manufacturing to improve profits.
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Telecommunications equipment maker  Motorola Inc. MOT.N said on Tuesday that it would cut 1,000  jobs and take charges of about $50 million for severance  benefits as it tries to increase productivity.
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Motorola said yesterday it would cut 1,000 jobs, as the company continues to refocus on its core mobile phone business. It said some positions being cut were related to the Freescale Semiconductor division that Motorola is in the process of spinning off.