Google warns of more Motorola cuts, revises up Q3 bill
Published on Oct 5, 2012 6:56 AM
(REUTERS) - Google raised its estimate of the cost of job cuts at its money-losing Motorola Mobility unit in the third quarter and warned of "significant" additional charges from further restructuring.
Severance-related charges at its mobile phone unit will be 9 per cent higher at US$300 million (S$370 million), Google said, adding the bill may rise another US$40 million in the quarter after the exit of facilities and markets.
"Motorola has continued to refine its planned restructuring actions and now expects to broaden those actions to include additional geographic regions outside of the United States (US)," the company said in a statement.
Google's broader plan for the money-losing cellphone maker remained unclear.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here