Motorola to cut 3,500 jobs to improve margins

Motorola plans to cut 3,500 jobs in the first half of 2007 to reduce costs and help it return operating margins to the double-digit percentage range, executives said on Friday.

The world's second-biggest maker of mobile phones outlined the plan to cut 5 percent of its 70,000-strong work force after reporting that fourth-quarter profit fell by 50 percent, hurt by a sharp drop in phone prices amid stiff competition.

Executives said the job cuts would affect middle managers.

Read more...