Mobile phone company Motorola announced yesterday that it would cut 4,000 jobs in 2009. The cuts come immediately on the coattails of 3,000 cuts made last year. Most of the cuts will affect employees in the mobile device division, though about 1,000 will be taken out of the corporate sector. Motorola has also frozen its pension plans, and plans to reduce executive pay. The company hopes that the layoffs will reduce their cost structure and allow it to operate in a more financially sound way. Motorola expects the plan to save $700 million this year, and $1.5 billion total when combined with the layoffs of 2008.
See "Motorola to cut 4,000 more jobs in 2009", Los Angeles Times, January 14, 2009