MocoNews reports that emotions are flying high following rumors that Durham, N.C.-based Motricity, the mobile content and technology firm, might be cutting up to a third of its 650-person workforce. Among other things, Motricity owns the portals that sell thousands mobile apps to various smartphones sorted by platform, such as PalmGear.com, Smartphone.net, and eReader.com.

Motricity may also relocate its headquarters to the Seattle-area following its $135 million purchase of Bellevue-based InfoSpace's mobile division, according to the report. The company itself told its employees yesterday that they'll make an announcement in the coming days, possibly before March 3rd.