Motorola Mobility Expects to Pay $31 Million as a Result of 800 Job Cuts
October 31, 2011 10:29 AM
comment(s) - last by
The pretax costs are $27 million in severance and $4 million for closing facilities
Back in August of this year, Google announced that it had
acquired Motorola Mobility
, an American company that makes devices such as Droid smartphones and the
10.1" Xoom tablet
, for $12.5 billion. Now, Motorola Mobility expects to pay $31 million in costs due to job cuts as it prepares for the Google acquisition.
The acquisition looks great for Google. This move allows the tech giant to get its hands on over 17,000 patents to protect Android, and also provides a path into the
Just last week, all was looking well for Motorola Mobility as well as it announced favorable financial results that beat analysts' predictions. Motorola Mobility reported an 11 percent increase in sales to $3.26 billion, and managed to narrow its loss to $32 million from $34 million one year before.
Now, Motorola Mobility has announced expects to pay $31 million to cut 800 jobs. The pretax costs are $27 million in severance and $4 million for closing facilities.
These costs were reported in a regulatory filing with the U.S. Securities and Exchange Commission. According to Motorola Mobility, the moves were approved October 24, and the costs will be recorded this quarter.
This article is over a month old, voting and posting comments is disabled
RE: Pretty generous severance...
10/31/2011 11:11:42 AM
So you imagine an SEC hypothetical just so you can spew your political theory?
RE: Pretty generous severance...
10/31/2011 1:03:39 PM
There is a marked difference between extrapolating probable outcome based on past events and "imagining hypothetical(s)". And the same can be said for the contrast between a response that could perhaps have some merit vs one that is simply defecated out of one's void cranium.
"If a man really wants to make a million dollars, the best way would be to start his own religion." -- Scientology founder L. Ron. Hubbard
Motorola Droid RAZR Officially Announced
October 18, 2011, 12:31 PM
UPDATE: Google to Acquire Motorola Mobility, Gain Huge Patent Portfolio
August 15, 2011, 7:45 AM
Motorola Cuts Price of 32GB Wi-Fi Xoom to $499
July 7, 2011, 1:00 PM
CVS, Rite Aid Kill Unofficial Apple Pay Support, Burn Google Wallet Users in the Process
October 25, 2014, 5:26 PM
AT&T Defeats Purpose of New Apple SIM, Locks iPad Air 2 SIMs to Its Network
October 24, 2014, 2:17 PM
Get Ready for "Microsoft Lumia" Smartphones in Next Few Months
October 24, 2014, 12:26 PM
Report: Samsung Galaxy S5 to Receive Android 5.0 Lollipop in December
October 24, 2014, 11:26 AM
Dreadful Fire Phone Sales Lead to $170M Writedown for Amazon
October 24, 2014, 8:55 AM
Xiaomi Moves Data Out of China to Woo EU, America, Escape Security Concerns
October 23, 2014, 5:11 PM
Most Popular Articles
Chinese Government Declares Digital War Against America's Top Tech Firms
October 20, 2014, 12:07 PM
Samsung Announces Galaxy S5 Plus with Snapdragon 805 Processor, LTE-A
October 22, 2014, 3:40 PM
Windows 8.1 + Android "Sell Mini PC" w/ Bay Trail Creates New PC Form Factor
October 20, 2014, 5:07 PM
Apple's iPad Air 2 Features Triple-core A8X Processor, 2GB of RAM
October 21, 2014, 8:32 PM
Apple Releases iOS 8.1; Adds Apple Pay Support, SMS Relay, Instant Hotspot
October 20, 2014, 1:00 PM
Latest Blog Posts
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information