Motorola to cut an additional 4,000 jobs

NEW YORK -- 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, Ill.-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.