Motorola Falls on Warning, Job Cuts

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Motorola (MOT) was down 13.4% in late morning after it said it expects third-quarter sales to be flat with the second quarter's. The maker of wireless technology also said it plans to cut another 2,000 jobs.

Motorola blamed slow demand. The company had earlier expected third-quarter sales to rise 5% compared with the second quarter.

The additional job cuts, to be made in its infrastructure unit by the end of the year, bring the total number of reductions at the company to 32,000.