The world’s second largest mobile phone maker has cut its workforce by over one-third from 150,000. The reduction takes the company’s size back to its 1995 level. The latest cut will reduce its current workforce by 7% and it will affect all of its businesses and corporate headquarters.
The charges will reduce Motorola’s net income for this year by $1.10 per share. However, it is still expecting to achieve a profit before special charges of at least 4 cents per share.
