December 17, 2008

Motorola To Freeze Salaries, US Pension Plan

According to Dow Jones and CNNMoney: “Motorola Inc. (MOT) said most employees won’t get pay raises next year and announced cuts to retirement plans in the latest sign of the company’s struggles to remain competitive without a product ready to compete with other high-end handsets.

The moves follow $800 million in cuts announced two months ago that include 3, 000 job cuts and putting on hold Motorola’s plans to break up the company.”

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