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Motorola expects $ 229 mn pretax charges in Q1
TT Bureau |  |  07 Apr 2009

Motorola said that it expects to incur additional charges amounting to $ 229 million including severance charges for the job cuts announced.

 

Motorola said in a stock exchange filing that $216 million of the total charges are for severance costs related to roughly 5,600 employees, in addition to taking $13 million in other pretax charges for contract terminations, asset impairments and other items. The company had earlier in January estimated the charges to be about $ 106 million.

 

The company further said that most of the cash payments happened during the first quarter and remaining payment will be made during the rest of the year.

    
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07 Apr 2009(IST)  
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