Oh no, bad sign. According to Bloomberg, Motorola Mobility is planning to cut hundreds of employees. They report that a regulatory filing with the U.S. Securities and Exchange Commission reveals a total of 800 jobs will be slashed, saving $31 million (USD) in costs. Yesterday Moto announced Q3 2011 financial results and although revenues hit $3.3 billion, up 11% from Q3 2010, they still lost $32 million. Total device shipments reached 11.6 million, 4.8 million were smartphones and 100,000 were XOOM tablets. Company spokesperson Jennifer Weyrauch-Erickson said that “Motorola Mobility continues to focus on improving its financial performance by taking actions to manage the company’s costs”.
Google announced their intent to acquire Motorola Mobility and their 17,000+ patents for $12.5 billion back in August – the deal is currently undergoing a review by the U.S. Justice Department and scheduled for a shareholder vote in a couple weeks, but is expected to close sometime early 2012. Apparently the job cuts have nothing to do with the pending deal.
Source: Bloomberg
