Motorola Lays Off 5%, Profits Down, they hope Smartphones will save them

Things are not looking so hot for Motorola these days. The Razr's so common it's practically a commodity. The Q, despite (because of?) being first to market, is looking pretty poor up against the Blackjack and the Dash. CEO Ed Zander gave a keynote address at CES and it never even occurred to me that I might be interested in what Motorola is doing in the industry right now. So lets hope for Moto's sake that when they say that they have a lot of great smart devices in the pipeline, the really really mean it.

Motorola is embarking on a drive to shore up profits by laying off 5% of its workforce amid a new drive to stimulate demand for high-end smartphones.

The company announced the developments at a Wall Street analysts meeting in the wake of reporting a 48% drop in profits Friday.

Read: Two-Pronged Initiative At Motorola: Layoffs And Better Smartphones - News by InformationWeek