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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (17974)	6/4/1998 9:19:00 PM
From: Investor2	Read Replies (1) \| Respond to of 25960

Re: "I am not sure that the tech current debacle is over in general. We will have to contend with pre-announcements over the next two weeks, and I expect some ugliness." Would you call this an example of "ugliness?" Thursday June 4, 6:21 pm Eastern Time Motorola restructures, sees $2 bln charges, cuts jobs SCHAUMBURG, Ill., June 4 (Reuters) - Motorola Inc. said on Thursday it would eliminate 15,000 jobs in the next year as part of a restructuring that will cause the company to take almost $2 billion in charges. Even before the charges, the company could report an operating loss for the second quarter as a result of deteriorating demand and global pricing pressure, principally in the semiconductor products segment, due primarily to economic conditions in Asia, the semiconductor and telecommunications products company said. The goal of the restructuring is to generate more than $750 million in annualized savings, the company said. Motorola has been in the process of evaluating business initiatives and has already cut jobs in some units, but it is accelerating that process as the improved profitability and higher sales it had forecast late last year have not occurred, it said. The company plans to exit nonstrategic, poorly performing businesses and to write down assets that have become impaired, either as a result of current business conditions or business portfolio decisions, the company said. It also plans to consolidate manufacturing operations throughout the company. Analysts had expected Motorola to report a second quarter profit of 20 cents a share, down from 62 cents a year ago, according to the First Call consensus estimate. Best wishes, I2