Motorola, expecting a fourth straight quarterly loss, said it planned to cut another 7,000 jobs and is lowering expectations world cell phone and semiconductor markets, published reports said. The Schaumburg,IL-based company said the Sept. 11 attacks make it impossible to predict when it might experience a turnaround. It no longer expects improvements in the first half of 2002. Net loss for the third
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Motorola, expecting a fourth straight quarterly loss, said it planned to cut another 7,000 jobs and is lowering expectations world cell phone and semiconductor markets, published reports said.
The Schaumburg,IL-based company said the Sept. 11 attacks make it impossible to predict when it might experience a turnaround. It no longer expects improvements in the first half of 2002. Net loss for the third quarter was $1.6 billion and the company did not turn a profit in most of its businesses.
The layoffs bring the total amount of layoffs since last December to 39,000 people—26% of the company. More might be coming, executives warned.
