Moto: 2600 Q1 Job Cuts Cost $104 Million
By Joseph Weisenthal - Thu 03 Apr 2008 03:01 PM PST
Motorola’s (NYSE: MOT) job cuts in Q1 cost the company $104 million according to an SEC filing this evening. Technically, the 2,600 eliminated positions resulted in a $113 million charge (about $44k per head in severance), but it recouped $9 million for certain reversals. The filing doesn’t break down how much each unit was hit, except that all of its lines were affected. The news comes about a week after the company said it would cut itself down the middle and spinoff its handset business.
Posted in: Companies, Motorola, Money
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