Firing enough people at Motorola, which Google bought for $12.5 billion, is going to cost more than Google thought, Claire Cain Miller reports.The new total is $300 million. Google will also spend another $90 million shutting down Motorola factories and exiting markets.
All that is going to show up in Q3 results for the company.
Noting that Motorola has lost money for the last four years in a row, venture capitalist MG Siegler can’t stop cackling over the news: “The hits just keep coming from the Google/Motorola deal. The $12.5 billion deal is now actually well past$13 billion in costs.”
“Google bought the Titanic. And they bought it when it was already underwater.”