Ericsson Climbs on Report of Staff Cuts of Up to 20 PercentBy
Svenska Dagbladet suggests retreat from some business lines
CEO Vestberg is under pressure to reduce costs as sales slip
Ericsson AB rose the most in almost a year after newspaper Svenska Dagbladet reported that the Swedish maker of mobile-phone networks plans to cut as many as 25,000 employees, or about 20 percent of its workforce, amid cutthroat competition and shrinking sales.
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