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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!! -- Ignore unavailable to you. Want to Upgrade?

To: Trey McAtee who wrote (3538)	6/4/1998 9:07:00 PM
From: Vic Breck	Read Replies (1) \| Respond to of 6565

How will MOTOROLA news affect VLSI in trading tomorrow???? Motorola to Cut 10% of Workforce; Take $1.95-Bln 2nd-Qtr Charge Schaumburg, Illinois, June 4 (Bloomberg) -- Motorola Inc. said it will slash its workforce by 10 percent, or 15,000 jobs, in the next 12 months, warned second-quarter earnings will be well below analysts' forecasts and said it will exit poorly performing businesses. The chip- and cellular phone- maker also said it will take a second-quarter charge of $1.95 billion. The company said semiconductor demand is only weakening further and that prices continue to fall. Motorola said the reorganization will yield more than $750 million in annual savings for the company. The news is the latest in a string of bad quarters for Motorola, which has disappointed investors with weak earnings, falling revenue and trouble in many of its businesses. The company was expected to earn 21 cents in the second quarter, according to analysts surveyed by IBES International Inc. The company's shares rose 11/16 to 51 1/2. The company made the announcement after the close of regular U.S. trading. 17:54:26 06/04/1998 Any redistribution of Bloomberg content, including by framing or similiar means, is expressly prohibited without the prior written consent of Bloomberg L.P. Any reference to the material must be properly attributed to Bloomberg News. The information herein was obtained from sources which Bloomberg L.P. and its suppliers believe reliable, but they do not guarantee its accuracy. Neither the information, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any securities or commodities.(C) Copyright 1998 Bloomberg L.P. BLOOMBERG, Bloomberg News, Bloomberg Financial Markets, Bloomberg Television, Bloomberg News Radio are trademarks, tradenames and service marks of Bloomberg L.P. Ola