Motorola is to axe another 4,000 jobs, following the 3,500 it decided to get rid of at the beginning of the ye...
The programme aimed at reducing costs is said to be on schedule, with the first 3,500 jobs set to be removed from Motorola’s headcount by this June. These axed jobs will help to save Motorola £210m a year, said the firm.
Motorola now plans to go after another £300m in cost savings through slashing another 4,000 jobs. The savings will also come through prioritisation of investments, continuing discretionary-spending controls, general and administrative expenses and site rationalisation, said the firm.
Tom Meredith, chief financial officer at Motorola, said, “We are confident that the steps we are announcing, together with the actions that we have outlined previously, will further improve the company’s financial and operational performance and create value for our stockholders.”
With the latest cuts, Motorola expects to take an additional £150m restructuring charge.
It has also been reported that IBM has slashed 1,500 jobs from its Global Services division in recent weeks, as part of its ongoing job cuts programme at the division.
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