Wednesday, January 21, 2009

Ericsson to cut jobs again

Ericsson AB, which cuts 4,000 jobs last year, plans to another round of job cuts this year, this time, about 5,000 jobs are at stake.

The company, the world's largest maker of telecommunications equipment, said the move will cost 6 billion kronor ($717 million) to 7 billion kronor. By second half of 2010, it will lead to annual savings of 10 billion kronor.

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