Ericsson to Cut 3,000 Jobs in Sweden as Network Demand Wanes

  • Manufacturer seeks to slash costs as carriers curb spending
  • Competition from Huawei, Nokia weighs on profit margins

Ericsson AB plans to cut 3,000 jobs in Sweden, a fifth of the workforce in its home country, as it curbs production to cope with shifting technology and stagnant demand for wireless-network equipment.

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