As expected following its $12.5 billion acquisition by Google, Motorola Mobility has begin paring its workforce, announcing today that it would be cutting 800 jobs.
Motorola said it would incur some $31 million in costs, including $27 million in severance and $4 million in facility closing expenses. The company detailed the moves in an SEC filing Friday. The restructuring costs will be absorbed in its fourth quarter.
Both companies' business segments "(the Mobile Devices business and the Home business), as well as various corporate functions, are impacted by the action and the action affects employees globally," stated Motorola in the filing.
Last week, Motorola earnings beat analyst estimates, reporting EPS of 12 cents, double the 6 cents analysts had expected. Sales were $3.26 billion, up 11 percent from a year ago, but off the $3.39 billion analysts forecast.
Motorola shareholders will vote on the acquisition, which was revealed in August, on Nov. 17.
In June, Motorola Mobility cut a deal with the State of Illinois that got it $110 million in financial incentives for keeping its headquarters and, presumably, HQ jobs in Libertyville. But a closer look at the deal showed it could trim its 3,290 person workforce by several hundred jobs and still get all the benefits from the deal.