IT/Electronics Leading The Way In Job Losses

Chip maker Intel has said it is shedding 5-6,000 jobs by closing five factories in Asia & the US.

Microsoft's second-quarter results, due today, are widely expected to show a shortfall in the company's own targets, and analysts are predicting that major job losses will follow.

Swedish telecoms equipment Ericsson are cutting 5,000 worldwide as part of their restructuring after announcing a 31% drop in fourth-quarter profits.

Sony Corp. said that it expects to announce record losses for the year ending March 2009. The company is expected to make further job cuts on top of the 16,000 already announced late in 2008.

Motorola Inc., announced last week it would cut a further 4,000 jobs as demand languishes under the strain of the recession.

Nokia, the world’s biggest mobile-phone maker, has also revealed falling sales, with fourth quarter profits falling more than analysts expected.