TECHNOLOGY - Oct. 19, 1996
Times Staff and Wire Reports
Motorola Offers Severance Package: Thousands of hourly workers in three of the company’s semiconductor plants have been offered severance packages as part of a cost-cutting drive, a company spokesman confirmed. Schaumburg, Ill.-based Motorola Inc. already had announced it would take cost-cutting steps in response to a 58% drop in third-quarter earnings attributed partly to slow demand for semiconductors. The package will be offered to about 6,000 production workers at plants in Irvine; Austin, Texas; and Research Triangle Park, N.C., Motorola spokesman Dan Rogers said. Motorola’s shares rose 75 cents to $48.75 on the New York Stock Exchange.
