Google: More cuts expected at Motorola Mobility

Google Logo 650

Google said on Thursday that it will further trim Motorola’s staff in the third quarter as it continues to revise the handset maker’s restructuring plan. The company said in a statement obtained by Reuters that the cuts will set Google back $340 million in severance and other costs.

“Motorola continues to evaluate its plans and further restructuring actions may occur, which may cause Google to incur additional restructuring charges, some of which may be significant.”

Google did not provide any details, but the search giant did say these cost-cutting measures will expand “to include additional geographic regions outside of the U.S.” In August, Google said it would cut 20 percent of Motorola’s staff as it tries to streamline the company and bring it back to profitability. In its last quarter (Q1 2012) before it was acquired by Google, Motorola Mobility announced net revenues of $3.1 billion and a GAAP net loss of $86 million.

[Via Reuters]

Back to top ▴