Analysts have long predicted that Motorola would have to drastically cut jobs because its phone sales have tumbled. The company announced in October that it would cut 3,000 jobs, including 2,000 in mobile devices.
The company said it now expects fourth-quarter revenue of about $7.1 billion, compared with the $7.5 billion analysts were forecasting. Motorola will lose 1 to 2 cents per share, excluding charges, the company said. Analysts were expecting earnings of 3 cents per share, according to Thomson FirstCall.
(For more, read "Motorola Puts DB Plans, 401(k) Match on Hold.")
Filed by John Pletz of Crain’s Chicago Business, a sister publication of Workforce Management. To comment, e-mail firstname.lastname@example.org.
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