Power PC manufacturer Motorola is to cut 7,000 jobs as part of a restructuring program.
The job cuts will affect all business units, including manufacturing, research and development, sales and corporate headquarters.
However, Motorola reaffirmed the second-quarter guidance it released June 12, estimating that sales for the quarter would reach or slightly exceed $6.4 billion. Operating results for the second quarter will result in a loss of $0.04 a share, the company added, although it predicted positive operating cash flow for the quarter.
Despite predicting a sales decline of 5 per cent to 10 per cent for 2002 compared to last year, Motorola estimated that it will post earnings of $0.04 a share for 2002.