Motorola, the largest US mobile phone manufacturer, announced on Thursday the job cuts just hours after reporting a quarterly net loss of nearly USD 400 million
and said more than two-thirds of the layoffs would be in the handset division.
The Schaumburg, Illinois-based company said it suffered a net loss of USD 397 million in the third quarter of the year after reporting a net profit of USD 60 million for the same period last year.
Motorola lowered its forecast for the remainder of the year but said its cost-cutting moves would result in annual savings of some USD 800 million next year.
The ailing company had 66,000 employees worldwide at the end of 2007 and the latest job cuts bring the total number of layoffs since January 2007 to 13,000.
 |
No comments:
Post a Comment