Motorola's woes continue. The company posted a $3.6 billion net loss in the fourth quarter, as sales in the handset division dropped 51 percent [1]. This followed the company's decision to cut 4,00 jobs [2], 3,000 of which came from the mobile devices unit. And in December, Motorola said it would freeze U.S. pension plans [3], stop matching company 401(k) contributions, halt most salary increases for 2009 and cut executive pay as the handset maker continues reeling amid the economic recession.
Q4 numbers:
Click here for a slideshow of some of Motorola's top phones [4]
Links:
[1] http://www.fiercewireless.com/story/motorola-posts-3-6b-loss-cfo-departs/2009-02-03
[2] http://www.fiercewireless.com/story/motorola-cut-4-000-more-jobs-amid-drop-sales/2009-01-14?utm_medium=rss&utm_source=rss&cmp-id=OTC-RSS-FW0
[3] http://www.fiercewireless.com/story/motorola-freezes-pension-plans-salaries-execs-take-pay-cuts/2008-12-17
[4] http://www.fiercewireless.com/slideshow/motorola-phones?img=0
[5] http://www.fiercewireless.com/special-reports/sony-ericsson-q4-2008
[6] http://www.fiercewireless.com/special-reports/handset-vendor-metrics-0