After laying off 3,000 workers last month, Motorola has announced an additional 4,000 workers to be cut to save a reported $700 million on top of $800 million estimated savings from fourth quarter cuts.

This report is another big blow from large companies feeling the pinch of the depreciating economy. The choice right now for most companies is really to survive or to close and obviously, the former is the logical recourse.

But along with that choice comes a sacrifice that points towards thousands of people having to be cut to save on expenses.

The actions we are taking today in our Mobile Devices business will allow us to further reduce our cost structure and positions us for improved financial performance in 2009. Together with these actions and the announcements made in the fourth quarter, the Mobile Devices business expects to recognize annual cost savings of approximately $1.2 billion in 2009.

Source

[tags]feeling_the_pinch, financial_performance, fourth_quarter, mobile_devices, recourse, sacrifice, motorola, economy[/tags]

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