Motorola lays off 4,000 Employees

The aura of the Aura luxury phone did not help to get the Motorola mobile phone division back on the bright side. Motorola announced an approximately 4,000 additional workforce reduction and expects cost savings of about $1.5 billion in 2009.
This lay off at Motorola will include approximately 3,000 positions associated with the Mobile Devices business and approximately 1,000 positions associated with corporate functions and other business units. The workforce reductions announced today are expected to begin immediately and are incremental to the 3,000 workforce reduction actions previously announced during the fourth quarter of 2008.Motorola also announced preliminary results of the fourth quarter. During the quarter, Motorola shipped approximately 19 million units. Total Motorola sales for the fourth quarter of 2008 are expected to be in the range of $7.0 billion to $7.2 billion. On a GAAP basis, the Company expects a net loss from continuing operations in the range of .07 to .08 per share, including estimated net charges of approximately .06 per share relating to items typically highlighted in the Company's earnings press releases. Final numbers are to be announced on February 3rd.
Via this Motorola announcement.

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