Business & Finance
Motorola will cut 7,000 more jobs, on top of the 32,000 layoffs already announced this year, the company said. The word came as Motorola was reporting its third consecutive quarterly loss - $1.4 billion - after more than 15 years without one. The Schaumburg, Ill.-based technology giant also confirmed it's headed for a fourth money-losing quarter.
DaimlerChrysler was fined $65.5 million by the European Union for a lengthy record of competition rules violations. The fine, exceeded only by a $77 million penalty against Volkswagen in 1998, was imposed because the automaker had engaged in price-fixing as well as discrimination against both non-German customers and leasing companies, a senior EU official said.
McDonald's Corp. announced it's cutting the number of divisions in its US operations from five to three to improve relations with individual outlets. The streamlining will result in an unspecified number of job cuts, a spokesman said.
In other layoff news:
Aer Lingus, Ireland's national airline, told employees it will cut 2,500 jobs, more than one-third of its workforce. Government officials said the carrier's losses have mounted to $2.2 million a day since the Sept. 11 terrorist attacks in the US.
Quebecor World Inc. said it will close seven plants and cut as many as 2,400 jobs. The Montreal-based company is the world's largest printer of magazines and retail catalogues, among them Time, Newsweek, Forbes, Sears, and L.L. Bean.