 the early part of the quarter. The end of the year didn't bring much help to the beleaguered company, as sales had decreased to $26.7 billion compared with $29.9 billion in 2001. Although sales remained flat for 2003, Motorola began to reap the rewards of its cost- cutting efforts. The company, which has shed more than 60,000 employees worldwide since 1997, posted four consecutive quarters of profitability and reported a net income of $893 million for the year. This is the same company that fell to a $2.5 billion loss in 2002. Not relying solely on layoffs, Motorola has improved efficiency by closing its semiconductor manufacturing plants and spinning off microchip maker Freescale Semiconductor. Motorola, the majority-owner of Freescale, plans to divest all of its interest through a public offering in the future. Additionally, Motorola is saving money by transferring some its production to contractors and trimming down its sprawling IT department to focus on core operations, such as broadband and optical communications products. In 2003, the company expanded its wireless reach by becoming the majority owner of broadband equipment manufacturer Next Level Communications. Visit Vault at www.vault.com for insider company profiles, expert advice, VAULT CAREER career message boards, expert resume reviews, the Vault Job Board and more. LIBRARY Vault Guide to the Top Telecom Employers Motorola, Inc. No longer rudderless While many experts predicted that Motorola's current president Mike Zafirovski would get the nod, the company named former Sun Microsystems president Edward Zander to the vacant CEO spot, in January 2004. The appointment ended the Galvin family's role in the company's top spot. Motorola has long had the reputation of being a slow and inward-looking corporation, and investors seem to think Zander is the perfect antidote. After a mere four months in charge under Zander's leadership, the company's stock rose some 40 percent. For the first quarter of 2004, Motorola's sales were up 42 percent. Net profits tri