After A Tough Q3, Telecoms Kit Maker Ericsson To Cut ~9% Of Workforce In Sweden: 1,550 Jobs To Go In Cost-Cutting Drive

Telecoms infrastructure company Ericsson has announced a big round of layoffs in a cost cutting drive after weathering a tough Q3, amid the global downturn. Reuters is reporting nearly nine percent of the company's workforce in Sweden -- 1,550 jobs out of a total of 17,768 -- are to go. In Q3, Ericsson's core profit fell 42 percent.

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