Technology giant Motorola, which employs 500 people in Cork, yesterday warned of deepening second-quarter losses and more job cuts in the year ahead, a day after it posted its first operating loss in 16 years.
The Schaumburg, Illinois-based company predicted that the first-quarter's operating loss of $206 million (€182 million) or nine cents per share would widen by a few cents because of an unfavourable shift in sales.
Executives blamed the losses on a continuing "significant" decline in sales of semiconductors.
The company expects to stem the losses in its cell phone and pager division in the next three months, but it will be the second half of the year before it sees any real uptake in sales and profitability.
The company stressed it would continue to trim its payroll and product line to contain costs: axing another 4,000 jobs on top of the 22,000 announced since November last year, and revising upwards its list of 44 discontinued products.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)