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
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): March 28, 2008
Motorola, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
(State or Other Jurisdiction of Incorporation)
| 1-7221 (Commission File Number) | 36-1115800 (I.R.S. Employer Identification No.) |
| 1303 East Algonquin Road, Schaumburg, Illinois (Address of Principal Executive Offices) | 60196 (Zipcode) |
(847) 576-5000
(Registrant’s Telephone Number, Including Area Code)
(Registrant’s Telephone Number, Including Area Code)
Not applicable
(Former Name or Former Address, if Changed Since Last Report)
(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 quarter of 2008, Motorola, Inc. (the “Company”) has taken specific actions relating to workforce reductions that will result in severance costs relating to approximately 2,600 employees. The result will be a net pre-tax charge in the first quarter of 2008 totaling approximately $104 million, comprised of $113 million in charges for severance costs, 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: April 3, 2008 | By: | /s/Laurel Meissner | ||
| Laurel Meissner | ||||
| Corporate Vice President, Finance and Chief Accounting Officer | ||||