Even with these measures Elcoteq will maintain

Our Producer Rewards program rewardsvideo creators for their best work as determined by viewer response. And ourWikicafe empowers viewers to add and improve the tags, title and descriptionsfor videos - resulting in better search results and recommendations. Theprivately held company is headquartered in Palo Alto, Calif., and has offices inTel Aviv, New York City and Los Angeles. For more information - and millions ofentertaining videos - visit 1 comScore Media Metrix, November 2008 MetacafeMichelle Cox, Copyright Business Wire 2009.

To cut a quarter of workforce globally China Russia Sees savings at 80 million to 100 million euros One-time costs seen at 24 million euros Shares up as much as 25 percent(Adds details, analyst comment, updates shares) HELSINKI, Jan 15 (Reuters) - Electronics manufacturingservices firm Elcoteq (ELQAV.HE) said on Thursday it plans tocut around one quarter of its workforce and shut plants globallyto cope with weaker demand, sending its shares soaring. "The restructuring plan does not imply changes in thecompany's strategy; it merely consists of preparatory measuresto adjust to the anticipated changes in market conditions and tosecure profitability in 2009 and beyond," Elcoteq said. The Finnish firm, a supplier to struggling mobiletelecommunications industry, said it would cut around 5,000 jobsglobally out of 21,000 in total, aiming for annual savings ofbetween 80 million and 100 million euros ($105million to $131million). Elcoteq said savings would be seen from the second quarteronwards and would significantly improve full-year profitability.One-time costs from the cuts and closures would be some 24million.

Elcoteq shares soared on the news, up as much as 25 percentbefore cooling to trade at 1.19 euros, a gain of 19 percent. "The consumer electronics market this year is quite bad.Compared to big competitors like Foxconn and Jabil, Elcoteqneeds to reduce their cost base," said Pohjola analyst HannuRauhala, who rates Elcoteq shares "sell". "The restructuring is necessary for them to survive." CLOSE PLANS, CUT COSTS Elcoteq said it would close plants in Romania, the UnitedStates and Russia, and consolidate its operations in China toBeijing. "Even with these measures, Elcoteq will maintain ...manufacturing operations for its customers in Mexico, Brazil,Estonia, Hungary, China and India," it said. In addition to the cuts and closures, the company will alsolook at other cost-savings measures, including selling machineryand equipment, ending facility and machinery lease agreements aswell as cutting external services. It also said it would try to bolster its balance sheet byraising capital in the first half of the year tapping BerhanLtd., Fredericks Michael & Co and Avista Advisory Partners Pte.Ltd as its advisors.

Elcoteq stuck to its full-year 2008 guidance, sayingfourth-quarter net sales were approximately 889 million euros,with underlying operating profit at around 1 million euros. ($1.7608 Euro) (Reporting by Brett Young; editing by Karen Foster and HansPeters) China Russia. Celebrated Authors to Provide Insights on Business Trends at WorkforceAlliance Leadership Forum and Summit 2009WEST PALM BEACH, Fla., Jan. 15 /PRNewswire/ Workforce Alliance ishosting a Workforce Leadership Forum entitled "Engaging the Next GenerationWorkforce" on Wednesday, February 18, 2009 to be followed by the hosting ofPalm Beach County's third annual Workforce Summit on May 29.