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Consumer Electronics

Just When Wall St. Thought Things At Motorola (MOT) Could Not Get Worse…

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By Douglas A. McIntyre Updated Published

Mot_2Motorola (MOT), mocked and ridiculed for being badly run for the last two years, has now let another 3,000 people go, two-thirds of them from the company’s failed handset business which only sold 25 million units last quarter and managed to lose $840 million on a 31% drop in revenue. The news was first reported by The Wall Street Journal.

Motorola today said it will not spin-off its handset division to shareholders as planned.

Now all the lay-offs can be done by a single company instead of two. It requires fewer human resource people that way. MOT has two CEOs in contemplation of breaking the firm into pieces. Each of them will keep his job whether the firm needs them or not.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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