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Friday, October 5, 2012

Motorola Mobility to broaden its restructuring

Motorola Mobility has updated its August announcement that around 20% of staff were to lose their jobs.

An official filing with the US Securities and Exchange Commission notes that “Motorola has continued to refine its planned restructuring actions and now expects to broaden those actions to include additional geographic regions outside of the U.S.”

However, the company hasn’t confirmed which countries are going to be affected.

In addition, the document says “Motorola continues to evaluate its plans and further restructuring actions may occur, which may cause Google to incur additional restructuring charges, some of which may be significant.”

The redundancies are currently expected to cost Motorola approximately $300 million - more than previously expected - with another $90 million to cover the cost of exiting some markets and closing facilities.

[SEC form]

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Author: The Fonecast
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