Motorola to post $101M charge

Motorola announced that it will post a net pretax charge of $101 million for Q2 because of previously announced job cuts. In May Motorola announced a reduction in 3,500 jobs, to be completed by June 30. Later in the month, Motorola announced additional cuts of about 4,000 jobs.

Earlier this week RBC Capital commented that Motorola's second quarter would be a wash since Motorola only sold 40 million units, instead of the expected 46 million units, according to the firm. During the same quarter last year, Motorola reported net income of $1.38 billion, which included gains of $5 million from the sale of investments and business.

For more on Motorola's $101 million charge:
- read this blurb from the WSJ