Following its rivals’ release of their financial results where they announced major changes this year, the market now keenly awaits the release of Motorola’s results for the third quarter of 2008 next week.
The mobile phone manufacturer said it would announce its results on February 3.
The release of its results come at a time when fellow players in the information technology industries announced that they had not been spared the global economic recession.
To cut costs, they said this would result in losses of thousands of jobs.
United States-based Motorola earlier this month said it would slash an additional 4 000 jobs so as to remain competitive in a slumping global economy.
The move is part of an overall plan to achieve annual cost savings of 1.5 billion dollars in 2009, the Illinois-based company said as it released preliminary quarterly results showing a loss in the fourth quarter.
“The workforce reductions announced today are expected to begin immediately and are incremental to the 3,000 workforce reduction actions previously announced during the fourth quarter of 2008. The actions we are taking today in our Mobile Devices business will allow us to further reduce our cost structure and positions us for improved financial performance in 2009,” Sanjay Jha, co-chief executive officer of Motorola said.
Mthulisi Sibanda
