BEIJING, May 31 (Xinhuanet) -- Motorola's Razr phone has lost its edge, resulting in an announcement Wednesday the cell phone maker will cut another 4,000 jobs as part of a scheme to improve sagging financial and operational results.
The latest round of cuts means the world's No. 2 handset maker has announced plans to eliminate more than 10 percent of its work force since the start of 2007. The company already is in the process of eliminating 3,500 jobs as part of a two-year cost-cutting plan to save 400 million U.S. dollars. Those layoffs, announced in January, are to be completed by June 30.
Motorola said it will save another 600 million dollars in 2008 by cutting 4,000 more workers, prioritizing investments and putting controls on discretionary spending and general and administrative expenses.
"Long-term, sustainable profitability is — and always has been — Motorola's top priority," Chief Financial Officer Tom Meredith said. "Today's actions are an update to the commitment we made ... to drive out additional costs, and a continuation of the plan we announced in January."
The Schaumburg-based company did not specify where the new cuts would be made. Spokeswoman Jennifer Weyrauch said they will be achieved through a mixture of attrition and layoffs.
Motorola's work force, which stood at 150,000 people worldwide as recently as 2000, had declined to 66,000 at the beginning of the year. Weyrauch said the company, which has acquired several smaller firms in recent months, also is continuing to hire.
(Agencies)
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