Motorola’s woes continued yesterday, as the company’s shares fell 5.9 percent, closing at a level not seen since May 2003. At the height of the Internet bubble, Motorola’s shares hit $60. Yesterday the stock closed at $8.09.
The Schaumburg-based company has struggled to keep up with the competition in the crowded handset market. JD Power recently announced that 24% of Apple iPhone users upgraded from a Motorola RAZR phone. With sales slumping, Motorola has laid off 10,000 employees in the last 18 months. The company announced in April that 2,500 more jobs would be eliminated.
If you work, or worked, in Motorola’s Schaumburg office, CC would appreciate hearing your thoughts on the current state of the company and what, if anything, can be done to turn its fortunes around.
