I really don't like to come on and post about the depressing economic situation, but the reality is that no market is immune to the downturn. In that reasoning, electronics giant Motorola has announced that it will slash an additional 4,000 jobs, or an estimated 6 percent of its workforce, as part of a stepped-up cost-saving move to remain competitive in a slumping global economy.

Of the latest job cuts, 3,000 will be in the Mobile Devices business and 1,000 positions in corporate functions and other business units.

The move brings its cost cuts to $1.5 billion for 2009, $700 million in new savings.

Motorola said it sold about 19 million handsets in the fourth quarter of 2008, short of several analysts' estimates of 22 million and above. Motorola sold 40.9 million in the fourth quarter of 2007.

It cited weakness in consumer demand as well as customer inventory reductions for its poor handset sales.