Motorola Inc. said it will cut 4000 more jobs in 2009, in addition to 3000 it announced last year. The company said the move will save about US$700 million a year starting in 2009, and totaling $1.5 billion in annual savings when combined with the previous cut. Most of the new layoffs will hit the mobile devices business, while about 1000 jobs are tied to corporate functions and other business units.
The company also said it expects revenue for 4Q 2008 to be between $7 billion and $7.2 billion, which would be a net loss.
"The actions we are taking today in our mobile devices business will allow us to further reduce our cost structure, and positions us for improved financial performance in 2009," said Motorola's co-chief executive, Sanjay Jha, in a statement.
to Daily News