Motorola to lay off (4,000) more workers, warns of loss

[UpInArms]

Source: CBS Marketwatch

SAN FRANCISCO (MarketWatch) -- Motorola Corp. said Wednesday that it expects to incur a loss in the fourth quarter and will lay off an additional 4,000 workers in a continuing effort to bring its costs under control.

The wireless device maker (MOT: 4.11, -0.21, -4.9%) issued a statement after the closing bell warning of lower-than-expected revenue for the fourth quarter, citing weak sales of cell phones in the slowing economy.

The company also expects to report a net loss of 7 cents to 8 cents per share for the period. Wall Street had been expecting earnings of 2 cents a share, according to consensus estimates from FactSet Research.

Revenue for the quarter is expected to come in between $7 billion and $7.2 billion. Analysts were expecting revenue of $7.5 billion, according to FactSet.

During the fourth quarter, the company shipped about 19 million wireless devices. It said sales were "adversely impacted by continued weakness in consumer demand and customer inventory reductions."

Motorola added that its Enterprise Mobility Solutions and Home and Networks Mobility units "continued to perform very well in a challenging environment."

The company said it ended the year with a total cash position of about $7.4 billion. It had reported $7.6 billion at the end of its third quarter.

Read more: http://www.marketwatch.com/news/story/Motorola-lay-off-another-4000/story.aspx?guid=%7BFAF5D769%2D38FF%2D4AF9%2D93C2%2DF38FE869F783%7D

[pinniped]

1. I just got a new Motorola c-phone.

They still manufacture some decent wireless devices.

[JCMach1]

2. I use a Motorola hadsfree set with my Samsung

It is awesome... uses standard headphones. I usually use it to beam my mp3's to me when I exercise or drive in my car.

However, they haven't had a 'hot' phone since the RAZR and other companies (like Samsung, HTC, LG, iPhone have been eating their lunch).