Motorola axes 4000 more jobs

Motorola today will be cutting an additional 4000 jobs this year, bringing the total to 7500. The company said that it is on track to save about $400 million through a previously announced workforce reduction of 3500.

A "comprehensive business review" showed that the company can save another $600 million by cutting another 4000 jobs, prioritization of investments, continuing discretionary-spending controls, general and administrative expenses and site rationalization, the firm announced today. Today’s announcement will result in additional restructuring charges of approximately $300 million, Motorola said.

For Q1 2007, the company announced revenues of $9.4 billion, down from $9.6 billion in Q1 2006 and a net loss of $181 million, compared to a profit of $686 million in the year-ago quarter.