Ericsson will lay off 3,000 this summer, report says
Ericsson is preparing 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 looks 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 Tuesday's news report, saying the company does not comment on rumors and speculation.
Ericsson is facing increasing competition from a more focused Nokia, which swallowed its Franco-American rival, Alcatel-Lucent, earlier this year, and especially from Chinese vendors such as Huawei Technologies or ZTE. It's a critical time for wireless infrastructure vendors and their carrier customers, as they taper off investment in fourth-generation networks in preparation for the next, still largely undefined, generation of technology.
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