1.
U.S. markets recover from steep losses
SCHAUMBURG, Ill., Oct. 30 (UPI) -- Motorola Inc. Chief Executive Officer Greg Brown said the U.S. technology giant would lay off 3,000 workers as part of a plan to save $800 million.
Most of the jobs -- about 2,000 -- would come from the company's mobile phone division, Crain's Chicago Business reported Thursday.
Motorola's mobile phone sales slid 9 percent in the third quarter, dropping the company to fourth in phone sales behind Sony Ericsson, Samsung Electronics and Nokia Oyj, Crain's reported. Just a year ago, the company was ranked second in mobile phone sales, Crain's said.
Motorola, which lost $397 million in the third quarter, also said it would postpone its planned breakup, offering no date for when the company would split into two.
The previously announced target date for spinning off the company's cellphone division from its other electronic products was October.
"While we will continue to prioritize investments on opportunities for growth, we are also improving our cost structure across the company," Brown said in a statement.
|
|
|
|
|
|
| Additional Business News Stories | |
WASHINGTON, May 24 (UPI) --
Louisiana legislators were praised by a consortium of environmental groups for outlining a 50-year plan to protect the coastal ecosystem.
|
WASHINGTON, May 24 (UPI) --
Australia is seeking to upgrade its F/A-18F fighter aircraft to the "G" configuration, the U.S. Defense Security Cooperation Agency said.
|
First-time buyers are driving the expectations that a recovery has begun. Their numbers and market share are growing despite financing roadblocks and competition with investors for entry-level homes. ...
|
It is a whole new ball of wax in Europe these days.
|
| Stories | Photos | People | Comments |
View Caption
