Home appliances giant Whirlpool has announced plans to adjust its manufacturing business in China and will close its washing machine plant, cutting 600 jobs.

While some companies around the world are responding to the financial crisis with job cuts, the newly issued 3G licenses in China have caused Ericsson to plan a hiring spree of several hundred new employees in China in 2009.

European electronics manufacturing services firm Elcoteq SE has decided to launch an intense global restructuring plan that will see one of its China facilities close.

The global financial crisis has hit Chinese PC maker Lenovo and it has announced that it will cut approximately 11% of its total global workforce, while the company expects to report a loss for the fiscal quarter that ended December 31, 2008.

Chinese PC maker Lenovo plans to cut 200 jobs in its Beijing headquarters, of which about 5% are senior managers and directors.

To broaden sources of income and reduce expenditure, Taiwan-based technology manufacturing group Hon Hai Precision Industry Company is planning to implement large-scale employee relocations to third-tier Chinese mainland cities that can offer preferential tax policies in addition to reducing its operating budget for 2009 by 20%.

According to Terry Guo, chairman of the Taiwan-based Hon Hai Precision Industry Company, the technology manufacturing group will implement a global staff cut plan and about 3-5% of its employees will lose their jobs.

With the financial crisis spreading to more Chinese technology businesses, Taiwan Semiconductor Manufacturing Company has announced plans to implement unpaid holidays from December 2008 to avoid staff cuts.

Flextronics, one of the world's leading electronics manufacturing services providers, will cut 30% of the jobs in its Beijing office in addition to closing its research and development department in Beijing.