Ericsson Plans To Lay Off Over 3000 Employees: Report
Ericsson is reportedly planning to lay off between 3,000 and 4,000 staff this summer, according to Swedish newspaper Svenska Dagbladet. Thousands more may have to go at the network equipment manufacturer as management look for additional cost savings of 10 billion Swedish kronor (US$1.2 billion), the newspaper said, citing anonymous sources. Ericsson had around 115,000 staff in April, 17,000 of them in Sweden. A spokeswoman declined to discuss the news report, saying the company does not comment on rumors and speculation. Ericsson is facing increasing competition from Nokia, which swallowed its...