USA Todayreports that Motorola is laying of 3,500 jobs or 5% of its workforce.
Motorola (MOT) CEO Ed Zander said Friday the cell-phone maker will cut 3,500 jobs, or 5% of its workforce, as it moves to improve operating costs after a disappointing fourth quarter.
Zander, speaking to analysts at a meeting in New York, said the move will save the company about $400 million over two years. The cuts from Motorola's workforce of about 70,000 are to be spread across the company globally and completed in the first half of 2007.
Motorla's profits dropped 48% in the fourth quarter of 2006 which explains why the company is looking to cut costs.
