diff --git a/Makefile b/Makefile
index 74240ab895..355a404e04 100644
--- a/Makefile
+++ b/Makefile
@@ -613,20 +613,37 @@ RSYNC_VCS_EXCLUSIONS = \
 	--exclude .svn --exclude .git --exclude .hg --exclude .bzr \
 	--exclude CVS
 
-STRIP_FIND_CMD = find $(TARGET_DIR)
-ifneq (,$(call qstrip,$(BR2_STRIP_EXCLUDE_DIRS)))
-STRIP_FIND_CMD += \( $(call finddirclauses,$(TARGET_DIR),$(call qstrip,$(BR2_STRIP_EXCLUDE_DIRS))) \) -prune -o
-endif
-STRIP_FIND_CMD += -type f \( -perm /111 -o -name '*.so*' \)
-# file exclusions:
+# When stripping, obey to BR2_STRIP_EXCLUDE_DIRS and
+# BR2_STRIP_EXCLUDE_FILES
+STRIP_FIND_COMMON_CMD = \
+	find $(TARGET_DIR) \
+	$(if $(call qstrip,$(BR2_STRIP_EXCLUDE_DIRS)), \
+		\( $(call finddirclauses,$(TARGET_DIR),$(call qstrip,$(BR2_STRIP_EXCLUDE_DIRS))) \) \
+		-prune -o \
+	) \
+	$(if $(call qstrip,$(BR2_STRIP_EXCLUDE_FILES)), \
+		-not \( $(call findfileclauses,$(call qstrip,$(BR2_STRIP_EXCLUDE_FILES))) \) )
+
+# Regular stripping for everything, except libpthread, ld-*.so and
+# kernel modules:
 # - libpthread.so: a non-stripped libpthread shared library is needed for
 #   proper debugging of pthread programs using gdb.
 # - ld.so: a non-stripped dynamic linker library is needed for valgrind
 # - kernel modules (*.ko): do not function properly when stripped like normal
 #   applications and libraries. Normally kernel modules are already excluded
-#   by the executable permission check above, so the explicit exclusion is only
+#   by the executable permission check, so the explicit exclusion is only
 #   done for kernel modules with incorrect permissions.
-STRIP_FIND_CMD += -not \( $(call findfileclauses,libpthread*.so* ld-*.so* *.ko $(call qstrip,$(BR2_STRIP_EXCLUDE_FILES))) \) -print0
+STRIP_FIND_CMD = \
+	$(STRIP_FIND_COMMON_CMD) \
+	-type f \( -perm /111 -o -name '*.so*' \) \
+	-not \( $(call findfileclauses,libpthread*.so* ld-*.so* *.ko) \) \
+	-print0
+
+# Special stripping (only debugging symbols) for libpthread and ld-*.so.
+STRIP_FIND_SPECIAL_LIBS_CMD = \
+	$(STRIP_FIND_COMMON_CMD) \
+	\( -name 'ld-*.so*' -o -name 'libpthread*.so*' \) \
+	-print0
 
 ifeq ($(BR2_ECLIPSE_REGISTER),y)
 define TOOLCHAIN_ECLIPSE_REGISTER
@@ -744,19 +761,8 @@ endif
 	rm -rf $(TARGET_DIR)/usr/share/gtk-doc
 	rmdir $(TARGET_DIR)/usr/share 2>/dev/null || true
 	$(STRIP_FIND_CMD) | xargs -0 $(STRIPCMD) 2>/dev/null || true
+	$(STRIP_FIND_SPECIAL_LIBS_CMD) | xargs -0 -r $(STRIPCMD) $(STRIP_STRIP_DEBUG) 2>/dev/null || true
 
-# See http://sourceware.org/gdb/wiki/FAQ, "GDB does not see any threads
-# besides the one in which crash occurred; or SIGTRAP kills my program when
-# I set a breakpoint"
-ifeq ($(BR2_TOOLCHAIN_HAS_THREADS),y)
-	find $(TARGET_DIR)/lib/ -type f -name 'libpthread*.so*' | \
-		xargs -r $(STRIPCMD) $(STRIP_STRIP_DEBUG)
-endif
-
-# Valgrind needs ld.so with enough information, so only strip
-# debugging symbols.
-	find $(TARGET_DIR)/lib/ -type f -name 'ld-*.so*' | \
-		xargs -r $(STRIPCMD) $(STRIP_STRIP_DEBUG)
 	test -f $(TARGET_DIR)/etc/ld.so.conf && \
 		{ echo "ERROR: we shouldn't have a /etc/ld.so.conf file"; exit 1; } || true
 	test -d $(TARGET_DIR)/etc/ld.so.conf.d && \