updated 1/14/2009 5:35:35 PM ET 2009-01-14T22:35:35

Mobile handset maker Motorola Inc. says it will cut 4,000 more jobs in 2009, in addition to 3,000 it announced in December.

The company says the move will save about $700 million a year starting in 2009, totaling $1.5 billion in annual savings when combined with the previous cut.

Most of the new layoffs will hit the mobile devices business, while about 1,000 jobs are tied to corporate functions and other business units.

The Schaumburg, Illinois-based company also said Wednesday it expects revenue for the fourth quarter to be between $7 billion and $7.2 billion, as it saw continued weakness in consumer demand and customer inventory reductions.

Analysts expected $7.5 billion in revenue.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
13.79%
Cash Back Cards 17.80%
17.78%
Rewards Cards 17.18%
17.17%
Source: Bankrate.com