Motorola Eliminates Another 7,000 JobsOctober 23, 2001 by Jeff Shepard
Motorola Inc. (Schaumberg, IL) announced it is reducing its work force by another 7,000 jobs, including an unspecified number of layoffs. It also confirmed it is headed for a fourth straight money-losing quarter. The announcement came after the company reported a $1.4 billion loss for the quarter ended September 30, 2001.
President and COO Robert Growney disclosed the elimination of another 4,000 positions from businesses recently sold plus 3,000 more planned through other cuts and attrition. That would increase the total cuts to 39,000 and trim the work force to approximately 108,000 by the end of the year - a reduction of about 26 percent. Growney indicated there could be more. "Motorola will continue to take appropriate cost-reduction actions," he said.