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To: blankmind who wrote (16917)	6/4/1998 10:40:00 PM
From: DMaA	Read Replies (2) \| Respond to of 45548

ED. MOT disappointing no longer surprises anyone but this is getting rediculous - WSJ: Motorola Plans a Massive Charge Of $1.95 Billion, Slashes 15,000 Jobs An INTERACTIVE JOURNAL News Roundup Motorola Inc. announced charges totaling $1.95 billion and said it would cut 10% of its global work force, slashing 15,000 jobs, as it attempts to right a formerly profitable ship that has been cruising dangerously close to the rocks of late. The Schaumburg, Ill., maker of computer hardware and consumer electronics said it would take pretax charges totaling $1.95 billion and would report an operating loss for the period. The company also said the job cuts will take place over the next 12 months. The Schaumburg, Ill., company said slowing demand for semiconductors and pricing pressures -- the principal reasons behind the restructuring --were driven mainly by Asian economic conditions. It said second-quarter earnings, excluding special items, will most likely be "well below" market expectations and may even show a loss. The company said that as a result of the problems, its net income would be well below the estimates of Wall Street analysts, and the company will likely post an operating loss for the second quarter. In the second quarter ended June 28, 1997, Motorola earned $268 million, or 44 cents a share, including a $170 million, or 18-cents-a-share charge. A First Call survey -- prior to Thursday's announcement -- of 27 analysts predicted the company would earn 20 cents a share in the second quarter. The company said that as part of the restructuring effort, it plans to consolidate its manufacturing operations, exit poorly performing businesses, and to write down impaired assets. In a statement released after regular stock-market trading ended, Motorola noted that it previously had expected to see higher sales growth and improved profits in 1998, but added that market conditions have prevented that from occurring. . . .