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): September 30, 2005
Motorola, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(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
(Registrants 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
Motorola, Inc. has previously discussed its intention to implement various productivity improvement
plans aimed principally at reducing costs in its supply-chain activities, as well as reducing other
operating expenses. On September 30, 2005, final decisions were made to implement actions
that will result in pre-tax charges
in the third quarter of 2005 totaling approximately $70 million of
severance charges and $20
million of asset impairments. All four of Motorolas business segments, Mobile Devices,
Networks, Government & Enterprise Mobility Solutions, and Connected Home Solutions, as well as
various corporate functions are impacted by these plans. The Company anticipates that cash payments of approximately $70 million in severance benefits will begin in the third quarter of 2005 and continue through the second
quarter of 2006.