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.
"Nowadays you can buy a CPU cheaper than the CPU fan." -- Unnamed AMD executive
Motorola Droid RAZR Officially Announced
October 18, 2011, 12:31 PM
After Early Post, Firefox 6.0 Launch Goes Official Today
August 16, 2011, 8:24 AM
Motorola Cuts Price of 32GB Wi-Fi Xoom to $499
July 7, 2011, 1:00 PM
UK Teachers Want Parents to Cut-Off Their Children's Internet, Tablet Use at Night
April 17, 2014, 3:40 PM
Quick Note: Chrome Remote Desktop App for Android Launches
April 17, 2014, 9:26 AM
Report: Apple Plans to Integrate Shazam Song Finding Functionality into Siri
April 17, 2014, 9:15 AM
Bring Your Own Battery: LG Isai FL Likely is G3, First U.S. Quad-HD Android
April 16, 2014, 7:38 PM
Project Moonshine: Google's Plan to Flatten Android App Icons Leaks
April 16, 2014, 1:46 PM
Apple, Microsoft, and Major U.S. Wireless Carriers Embrace Smartphone "Kill Switch"
April 16, 2014, 10:08 AM
Most Popular Articles
Cities to Carpoolers: Sharing Your Car is Illegal, We Will Seize Your Cars
April 4, 2014, 9:17 PM
A-10 Warthog May Live to Fight Another Day with Support from Lawmakers
April 14, 2014, 9:41 AM
EFF: NSA May Have Used IRC Botnets to Exploit Heartbleed for Last Two Years
April 14, 2014, 4:43 PM
Quick Note: Toyota Attempts to Erase “Boring” Image with ’15 Camry SE Hybrid
April 16, 2014, 11:36 AM
A Bug's Life: Female Cave Bugs Have Penises, Penetrate Males for Three Days
April 17, 2014, 7:20 PM
Latest Blog Posts
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
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
Global Cyber Espionage Concerns Reveal Growing Cyber Armies
Nov 29, 2013, 11:04 AM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information