Mobile handset maker Motorola Inc. said Wednesday it will cut 4,000 more jobs in 2009, in addition to 3,000 it announced in October.
Mobile handset maker Motorola Inc. said Wednesday it will cut 4,000 more jobs in 2009, in addition to 3,000 it announced in October.
The company said the move will save about $700 million a year starting in 2009, and total $1.5 billion in annual savings when combined with the previous cut.
Most of the new layoffs will hit the mobile devices business, while about 1,000 jobs are tied to corporate functions and other business units.
The move is the latest in cost-cutting measures by Motorola, which has been struggling to revive its business in recent years. When the cuts are complete, around 12,000 workers will have left the company since December 2007 when there were 66,000 employees, an 18 percent reduction. Last month, it announced it was freezing its pension plans and reducing executive pay.
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