Motorola cuts 800 jobs before it's being included in the Google family
31 October 2011 by Olav Hellesø-Knutsen
Motorola Mobility has decided to cut the work force with 800 employees as a preparation for the Google acquisition
There is no need for Motorola Mobility, the mobile division of Motorola Corp. being bought by Google, to make itself look attractive any more. The decision is taken and Google will buy the phone making part of company for 12.5 billion USD.
Firing 800 employees will cost the company $31 million according to Bloomberg. 27 of those millions are for severance cost and $4 million for closing down facilities.
Motorola Mobility is still loosing money by $32 million a quarter, but the sales rose 11% to $3.3 billion compared to 3rd quarter last year. Revenues for Mobile Devices was $2.4 billion, up 20% since last year. Out of the 11.6 million devices shipped last quarter, 4.8 million / 40% were smartphones.
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Both the legendary Motorola and Ericsson names disappearing from the mobile market, almost at the same time.
so true and so sad.its an end of an era.