Motorola sees $101M layoff charge
NEW YORK
Cell phone maker Motorola Inc. will log a net pretax charge of $101 million in its second quarter after cutting 2,100 jobs, the company said in a Securities and Exchange Commission filing.
In a filing late Thursday, Motorola said the total consists of $115 million in layoff-related charges and $14 million in reversals for prior-period accruals that it no longer needs.
In May, Motorola said it would complete an already-announced plan to lay off 3,500 employees by June 30. At that time, the cell phone maker also said it would cut another 4,000 jobs.
Cell phone maker Motorola Inc. will log a net pretax charge of $101 million in its second quarter after cutting 2,100 jobs, the company said in a Securities and Exchange Commission filing.
In a filing late Thursday, Motorola said the total consists of $115 million in layoff-related charges and $14 million in reversals for prior-period accruals that it no longer needs.
In May, Motorola said it would complete an already-announced plan to lay off 3,500 employees by June 30. At that time, the cell phone maker also said it would cut another 4,000 jobs.
Labels: Businessweek, layoffs, Motorola Mobile Devices
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