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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum -- Ignore unavailable to you. Want to Upgrade?

To: coachbobknight who wrote (4252)	2/9/2001 1:38:57 PM
From: golfnut777	Respond to of 6445

Somebody is a few fries short of a happy meal. No "traditional" signs of a slowdown ? Why don't they ask the 150,000 people that have been laid off in the last month if they think there's a slowdown. Here's another 4K biting the dust. Maybe the fed governors should be fired and then ask them if there is a slowdown ? Motorola Inc. Discloses Plans To Cut As Many As 4,000 Jobs From Its Semiconductor Operations by the End of the Year CHICAGO (AP) -- Motorola Inc. (NYSE:MOT - news) disclosed plans Friday to cuts as many as 4,000 jobs, or about 3 percent of its work force, from its semiconductor operations by the end of the year -- its third round of employee cuts in 10 weeks. Motorola, the world's No. 3 maker of semiconductors and No. 2 in cellphones, has been suffering from a slowdown in the semiconductor market and falling profitability in its cellphone operations. While semiconductor sales rose 7 percent in the fourth quarter to $1.9 billion, totaling $7.9 billion for the year, orders slipped by 19 percent. Last month it eliminated 2,500 jobs at its cellphone manufacturing facility in Harvard, Ill., and in December disclosed 2,870 layoffs in Iowa, Florida and Ireland as part of a moneysaving shift to more outsourcing of its cellphone production. No specific locations for the job cuts were announced. The Schaumburg, Ill.-based company's semiconductor operations are based in Austin, Texas. Motorola said the reductions, which will be made through a combination of attrition and layoffs, are aimed at helping to boost efficiency and improving profitability. ``While job reductions are extremely painful, they are a necessary part of our cost-reduction needs,'' said Fred Shlapak, president of the semiconductor products sector.