Google said Friday it will cut 1,200 more jobs at its Motorola Mobility division, following the announcement of 4,000 layoffs in 2012.
The new job cuts represent 10% of the struggling mobile device maker's staff.Google (GOOG, Fortune 500) has preached patience in its turnaround effort of Motorola. When the search giant completed its $12.5 billion purchase of Motorola in May 2012, it inherited a product pipeline of about 18 months. That means Google hasn't yet been able to release Motorola-branded smartphones of its own design.
Meanwhile, Motorola's mobile business continues to bleed red ink. It lost $353 million in the fourth quarter of 2012, and Google's Chief Financial Officer Patrick Pichette has said he expects Motorola's financial results will be volatile "for quite awhile."
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Charles Riley