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Motorola To Lay Off Thousands More

Company's Profit Weakens

Posted: 11:44 a.m. EDT September 6, 2001

SCHAUMBURG, Ill. -- Motorola is lowering its sales and profit forecasts and increasing its job cuts. The semiconductor and mobile phone maker says third-quarter sales will likely be flat with the second quarter, rather than show a 5-percent increase as earlier forecast.

Motorola, in a statement, also says its third-quarter loss will probably be between five cents and eight cents per share. It previously had forecast a loss of a nickel a share.

It blames weak demand in the telecommunications equipment markets.

Motorola also says it plans to eliminate about 2,000 additional jobs by the end of this year. The new cuts would bring the total number of eliminated jobs at Motorola this year to 32,000.

-- Anonymous, September 06, 2001