Motorola to cut 4,000 more jobs in 2009

By: Associated Press
By: Associated Press

January 14, 2009

NEW YORK (AP) -- Mobile handset maker Motorola Inc. says it will
cut 4,000 more jobs in 2009, in addition to 3,000 it announced in
December.

The company says the move will save about $700 million a year
starting in 2009, totaling $1.5 billion in annual savings when
combined with the previous cut.

Most of the new layoffs will hit the mobile devices business,
while about 1,000 jobs are tied to corporate functions and other
business units.

The Schaumburg, Ill.-based company also said Wednesday it
expects revenue for the fourth quarter to be between $7 billion and
$7.2 billion, as it saw continued weakness in consumer demand and
customer inventory reductions.

Analysts expected $7.5 billion in revenue.

(Copyright 2009 by The Associated Press. All Rights Reserved.)


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