The Deal
Friday, July 4, 
11:17 pm

[Posted on April 3, 2008 - 5:46 PM]

motorola.gifJust one week after saying it would split itself into two independent companies, troubled mobile communications provider Motorola Inc. [MOT] on Thursday disclosed it would take a $104 million charge for severance costs related to 2,600 laid-off employees. Motorola said all three of its business segments would be affected by its lay-off plans.

Bowing to pressure from activist investor Carl Icahn, Motorola on March 26 said it would separate its struggling mobile phone business from its broadband and mobility-solutions operations and form two independent, publicly-traded companies in 2009. The company has struggled in the handset market, losing market share to rivals Nokia Corp. [NOK] and Samsung Electronics and there is speculation the unit could be sold after it is split. -- David Shabelman

See April 3 filing from Motorola
See April 3 story from the Chicago Tribune
See March 26 story from Tech Confidential
See March 26 post from Gizmodo

 


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