Motorola said to axe 500 jobs at its Chicago headquarters as part of Lenovo restructuring

As part of Lenovo's recently-announced restructuring efforts, Motorola plans to cut 500 jobs at its Chicago headquarters, according to a new report. That number accounts for 25 percent of Motorola's 2,000 employees that work in the Merchandise Mart offices. From Crain's Chicago Business:

Motorola Mobility will cut 500 positions, or 25 percent of its jobs in Chicago, as part of a major restructuring by its parent, Lenovo Group.

That's more than twice the 10 percent cutbacks Lenovo said it was undertaking in its non-manufacturing workforce.

Lenovo, Motorola's parent company, stated in its most recent earnings report that it would undertake important restructuring efforts to combat increased competition and slowing growth across a number of its businesses. Lenovo also announced that it will be shifting all design, development, and manufacturing duties of its smartphones over to Motorola as part of the effort.

Source: Crain's Chicago Business