Disqus
The embattled phone manufacturer has made another round of lay-offs in its latest attempt to curb the company’s hemorrhaging finances. Motorola is cutting 4,000 jobs in an efforts to shave $600 million in operating costs for 2008 – following on previous measures to save $400 million by letting go of 3,500 employees.
Motorola Chief Financial Officer, Tom Meredith, explained the
cost-cutting move by saying that, “Long-term, sustainable profitability is — and always has been — Motorola’s top priority,” adding that, “Today’s actions are an update to the commitment we made during our first-quarter earnings conference call — to drive out additional costs — and a continuation of the plan we announced in January. We are confident that the steps we are announcing … together with the actions that we have outlined previously, will further improve the company’s financial and operational performance and create value for our stockholders.”
We should mention that the handset manufacturing giant will be offsetting the $1 billion in savings with $300 million in restructuring costs. It looks like Motorola is taking a couple steps forward and one step back. Good one Moto! Maybe Icahn would have been a good idea after all?
via: yahoo
About The Author
Will Park
Will hails from The City of Angels - Los Angeles, California. He spends his time playing with his numerous gadgets and looking forward to seeing what future holds for mobile technology. An avid promoter of a fully "digital" life, he promotes the widespread adoption of truly mobile, paper-less living. He dreams of the day when he can go completely digital. No more snail mail, paper receipts, bound books, notepads/spiral notebooks, credit cards, hard currency. He's a digital warrior - fighting for the converged life. He is an idealist and a realist - he has a perfect view of what the world should be but knows that the world is not perfect. Can we ever hope to see Will's dream become reality? We'll see...
-
PineRoot
