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To: Lucretius who wrote (139253)12/18/2001 4:20:02 PM
From: Sully-  Read Replies (2) | Respond to of 436258
 
Motorola to Cut 4,100 Jobs, Sees Loss
CHICAGO (Reuters) - Wireless technology giant Motorola Inc.(NYSE:MOT - news) on Tuesday confirmed that it expects an operating loss with flat sales in the fourth quarter, adding that it will cut 4,100 employees and expects to be profitable in 2002.

The company said it continues to incur an operating loss of 4 cents to 5 cents a share on a proforma basis in the fourth quarter. It expects sales from ongoing operations to be flat to 3 percent higher than the $7.24 billion it reported in the third quarter.

Motorola said it will take further action to save about $865 million in 2002 and about $1.1 billion a year after that.