Motorola Mobility to drop 800 jobs

Motorola Mobility has issued a regulatory filing outlining the loss of 800 jobs. The cut will cost the handset manufacturer $31 million -- that number includes $27 million in severance and $4 million to close locations. The reason for the cuts? Bloomberg suggests that it's part of an attempt to lower costs, as the company readies itself to join the Google family -- a decision Motorola's board will vote on in the middle of next month. This news follows last week's earnings report, in which the mobile company reported a $32 million net loss -- not the greatest financial report, sure, but a marked improvement over the prior quarter's $56 million loss.