-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UlWWBThrrlWxoTAwWMIVYtloW+DiWzSxBefFY6nfUYm9xr9O1AzEcg3TZSQFYIBa MQwamz8uWO532TwFDhl/mA== 0000950137-08-000104.txt : 20080104 0000950137-08-000104.hdr.sgml : 20080104 20080104172342 ACCESSION NUMBER: 0000950137-08-000104 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20071231 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities FILED AS OF DATE: 20080104 DATE AS OF CHANGE: 20080104 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MOTOROLA INC CENTRAL INDEX KEY: 0000068505 STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663] IRS NUMBER: 361115800 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07221 FILM NUMBER: 08512830 BUSINESS ADDRESS: STREET 1: 1303 E ALGONQUIN RD CITY: SCHAUMBURG STATE: IL ZIP: 60196 BUSINESS PHONE: 8475765000 MAIL ADDRESS: STREET 1: 1303 EAST ALGONQUIN ROAD CITY: SCHAUMBURG STATE: IL ZIP: 60196 FORMER COMPANY: FORMER CONFORMED NAME: MOTOROLA DELAWARE INC DATE OF NAME CHANGE: 19760414 8-K 1 c22693e8vk.htm CURRENT REPORT e8vk
 

 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 31, 2007
Motorola, Inc.
(Exact Name of Registrant as Specified in Its Charter)
         
Delaware   1-7221   36-1115800
         
(State or Other Jurisdiction
of Incorporation) 		  (Commission
File Number) 		  (I.R.S. Employer
Identification No.)
     
1303 East Algonquin Road, Schaumburg, Illinois   60196
     
(Address of Principal Executive Offices)   (Zip Code)
(847) 576-5000
(Registrant’s Telephone Number, Including Area Code)
Not applicable
(Former Name or Former Address, if Changed Since Last Report)
     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
     
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
     
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
     
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
     
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

Item 2.05   Costs Associated with Exit or Disposal Activities
During the first half of 2007, Motorola, Inc. (the “Company”) announced cost-reduction initiatives, including planned workforce reductions, aimed at achieving long-term, sustainable profitability by driving efficiencies and reducing operating costs. In connection with these initiatives, during the first nine months of 2007, the Company took charges of $311 million representing severance costs for approximately 5,100 employees.
During the fourth quarter of 2007, in connection with such previously announced workforce reductions, the Company has taken specific actions that will result in severance costs relating to approximately 1,600 additional employees. The result will be a net pre-tax charge in the fourth quarter totaling approximately $90 million, comprised of $90 million in charges for severance costs and $9 million of exit costs for leased facilities associated with the cost-reduction initiatives described above, partially offset by $9 million of reversals for accruals from prior periods that are no longer needed. All of the above estimated charges are expected to result in future cash expenditures during 2008. All three of the Company’s business segments, as well as various corporate functions, are impacted by these plans.

 

SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
         
  MOTOROLA, INC.
 		  
Date: January 4, 2008  By:   /s/ Marc E. Rothman    
    Marc E. Rothman   
    Senior Vice President, Finance and
Corporate Controller 		  

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