Following Nokia, Motorola is the worlds second-largest wireless handset vendor. Despite the companys recent success, Motorola has recently reported a 48% plunge in its fourth quarter profit, from $1.2 billion in 2005 to $624 million in 2006. In an effort to maximize profits for its wireless handsets, the company will cut 3,500 of its 70,000 employees, lowering its corporate cost structure by $400 million by the end of 2007. The jobs will be cut mainly from an internal reorganization necessary after Motorolas recent acquisitions of Symbol Technologies and Good Technology. The cuts will affect workers scattered through Motorolas global offices and will be completed during the first half of 2007.
News source: InfoWorld