Motorola Thursday says it will close a Florida plant where cell phones are designed by the end of the year. The move will cost 240 people their jobs.
Company officials say the closing at Boynton Beach affects a total of 375 jobs. The Schaumburg, Illinois-based company has offered employment to 135 workers at other locations. Sixty of the people have been offered positions in Libertyville, Illinois.
Officials say the move is part of Motorola's ongoing cost restructuring plan. The company has shaken up its business units and slashed its work force from a peak of 150,000 in 2000 to about 88,000 at the end of 2003.
The Schaumburg, Illinois-based company has reported that its fourth-quarter earnings nearly tripled from a year ago to $489 million, or 20 cents per share.