Motorola Inc., headquartered in Schaumburg, IL, U.S., plans to cut another 2,400 jobs during the remainder of 2003 and the first quarter of 2004, according to its filing with the Securities and Exchange Commission (SEC), Crain's Chicago Business reported.
These cuts are in addition to 6,600 jobs Motorola has already cut this year, according to the Crain's report.
Earlier this year, Motorola announced that it was planning to eliminate 7,000 positions in 2003, the report said. As of August, Motorola had nearly 90,000 employees, and the company had spent U.S. $328 million in severance-related costs by the end of September, according to Crain's.
Now Motorola has earmarked $131 million to cover costs that will be related to this latest planned round of job cuts, the report stated.
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