4/4/2008 12:45:00 PM
Motorola cuts 2,600 jobs bringing total to 10,000
Motorola said yesterday that it was laying off an additional 2,600 workers in the US. This brings the company’s total staff cuts to over 10,000 since last year.
In the first three months of this year, the company had pre-tax charges of roughly £52m for the layoffs, according to filing with the Securities and Exchange Commission. The company said that the severance charges will be partly offset by £4.5m in reversals for accruals from prior periods that are no longer needed.
Motorola had announced that it was cutting 3,500 jobs in January 2007 as part of a two year cost cutting plan, and declared a further 4,000 cuts in May last year.