Cell phone maker Motorola Inc said Wednesday it will cut another 4,000 jobs as part of a plan aimed at improving sagging financial and operational results.
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. “Those layoffs, announced in January, are to be completed by June 30,” it said.
Motorola said it would save another $600 million 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,” he added.
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