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Motorola grits teeth as Q1 charges mount

8 Apr 2009

Motorola said Monday, 6 April 2009, it expects to take additional charges for the first quarter, bringing the total to US$229 million before taxes.

The company, which is laying off thousands to cut costs, said in a regulatory filing that $216 million of the total charges are for severance costs related to roughly 5,600 employees. In addition, it is taking $13 million in other pretax charges for contract terminations, asset impairments and other items.

In a 21 January filing, Motorola had estimated first-quarter charges related to severance would total about $106 million.

Read the full article here.

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