News
Moto makes more job cuts
Tim Green Jan 2 2009, 12:41pm
Ailing handset firm sheds 400 jobs on top of 1,500 cuts made in October, says SEC filing.
It will make the reduction primarily in the devices area as it attempts to reverse the alarming losses confirmed last year. The filing says these cuts, plus other cost saving actions, will save the company $800 million in 2009.
Motorola now expects $189 million in charges in the period related to its cost-cutting initiatives, which also include suspend ing contributions to retirement and pension plans, freezing pay increases and cutting senior level exec salaries.
