Motorola to stop Singapore mobile phone production
SINGAPORE (Reuters) - Motorola Inc <MOT.N> said on Wednesday it will stop making mobile phones in Singapore by the end of the year, a move that will result in the loss of 700 jobs.
The decision follows "a strategic review of business operations, which includes a previously announced global $500 million cost-reduction initiative," a Motorola spokeswoman told Reuters.
The U.S. firm will continue to base its headquarters for Asia-Pacific in Singapore where it also has units engaged in research and software development, the company said in an email sent in response to Reuters' queries.
"Approximately 700 Singapore-based, permanent Motorola employees will be impacted," the spokeswoman said.
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Motorola had said last week that it would split into two publicly traded entities in 2009 to separate its money-losing handset division from the rest of the business which makes devices including television set top boxes and network equipment.
(Reporting by Kevin Lim and Jennifer Tan; Editing By Ovais Subhani)