Your Web News in One Place

Help Webnuz

Referal links:

Sign up for GreenGeeks web hosting
October 31, 2011 01:15 pm EDT

Motorola Mobility to drop 800 jobs

Motorola Mobility has issued a regulatory filing outlining the loss of 800 jobs. The cut will cost the handset manufacturer $31 million -- that number includes $27 million in severance and $4 million to close locations. The reason for the cuts? Bloomberg suggests that it's part of an attempt to lower costs, as the company readies itself to join the Google family -- a decision Motorola's board will vote on in the middle of next month. This news follows last week's earnings report, in which the mobile company reported a $32 million net loss -- not the greatest financial report, sure, but a marked improvement over the prior quarter's $56 million loss.

Motorola Mobility to drop 800 jobs originally appeared on Engadget on Mon, 31 Oct 2011 09:15:00 EDT. Please see our terms for use of feeds.

PermalinkPhone Scoop | sourceBusiness Week ||Comments

Original Link: http://www.engadget.com/2011/10/31/motorola-mobility-to-drop-800-jobs/

Share this article:    Share on Facebook
View Full Article

Engadget

Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics. Engadget was launched in March of 2004 in partnership with the Weblogs, Inc. Network (WI

More About this Source Visit Engadget