Motorola on Thursday said its plan to break up into two companies is on hold, leading the head of its mobile phone business to outline a new plan for reviving the company's ailing handset business. Part of the restructuring plan includes the loss of 3,000 jobs, most from the mobile phone division, a company representative confirmed. Motorola (MOT), which reported third quarter earnings that beat profit estimates but missed sales targets, said the split up called for by activist investor Carl Icahn will not happen in the third quarter next year as planned. Icahn wasn't immediately available for comment. Motorola was down 5% Thursday and has seen its stock fall 72% in the past year as the lack of a successor to its once-hot Razr phone wiped out its sales volume and profits amid a declining economy. Sanjay Jha, who took over as head of the handset business in August, blamed the economy, the credit freeze and "changes underway" in the mobile phone unit for the breakup delay.