Motorola to cut 7,000 more jobs in attempt to lower costs, return to profitability
Thursday, June 27th 2002, 12:00 am
By: News On 6
CHICAGO (AP) _ Motorola Inc. announced plans Thursday to eliminate 7,000 jobs _ about 7 percent of its work force _ in an attempt to lower costs and return the company to profitability in the second half of the year.
As part of a lengthy restructuring, the struggling company has reduced its work force from a peak of 150,000 employees in August 2000 to the roughly 100,000 people it now employs.
The latest round of cuts, expected to start in July, will put Motorola's work force at around 93,000, said spokesman Scott Wyman.
Motorola said the cuts will affect all business segments and corporate headquarters operations and will substantially complete Motorola's corporate restructuring. The company, based in Schaumburg, said it still expects to show a profit in the third and fourth quarters this year.