Korea / Motorola / More than 500 jobs cut

Motorola Mobility will close “most” of its South Korean operations by 2013, according to a leaked internal memo.

According to the memo (in Korean), the move is part of a continued global restructuring effort by its parent company Google, which bought the smartphone maker earlier this year for $12.5 billion. Since then, however, restructuring costs have bumped the overall price close to $13 billion.

The deal was proposed by Google to acquire more than 17,000 patents from Motorola, but the hefty price tag will soon be challenged in court, where the search giant may discover that it paid far too much (or caught a bargain) for the company as the court will decide how much the patents are worth.

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via Motorola Mobility to pull out of Korea, more than 500 jobs cut | ZDNet.