Ericsson to Cut as Many as 2,200 Swedish Jobs to Lower Costs
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Ericsson AB plans to eliminate as many as 2,200 jobs in Sweden as part of a cost-reduction plan to improve profitability amid slowing sales.
The measures, affecting about 2 percent of the workforce, will mainly target research and development and supply functions, Stockholm-based Ericsson said in a statement Wednesday. The move is part of a project announced in November to scale back spending by 9 billion kronor ($1 billion) over three years.