Consumer Electronics
Just When Wall St. Thought Things At Motorola (MOT) Could Not Get Worse...
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Motorola (MOT), mocked and ridiculed for being badly run for the last two years, has now let another 3,000 people go, two-thirds of them from the company’s failed handset business which only sold 25 million units last quarter and managed to lose $840 million on a 31% drop in revenue. The news was first reported by The Wall Street Journal.
Motorola today said it will not spin-off its handset division to shareholders as planned.
Now all the lay-offs can be done by a single company instead of two. It requires fewer human resource people that way. MOT has two CEOs in contemplation of breaking the firm into pieces. Each of them will keep his job whether the firm needs them or not.
Douglas A. McIntyre
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