Motorola slashes jobs after handset slump
By
Jane Hoskyn
23 March 2007 11:52AM
Tags:
motorola | slashes | jobs | handset | slump
Motorola has announced 2,500 job losses and slashed its financial forecasts following a slump in handset sales.
The mobile giant said that it may make a loss in the first quarter of this year, and will shed 2,500 US jobs over the next six months. The management team has also been reshuffled.
Motorola president Robert Growney called the performance of its wireless handset business "unacceptable", and reported a big slowdown in orders across its business lines.
However he claimed that the weakness is the result of "current industry-wide conditions and not a loss in [Motorola's] market share".
The forecast follows a number of profit warnings from US technology firms, signalling a slowdown which Growney said is "bleeding very quickly into Europe" .
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