Mar 11, 2015 5:51 AM
Ericsson cuts 2,200 jobs in Sweden
The Associated Press
STOCKHOLM (AP) Wireless equipment maker Ericsson says it will cut 2,200 jobs in Sweden as part of a 9 billion kronor ($1.1 billion) savings package.
The Stockholm-based company said the layoffs would mostly affect research and development and supply positions.
Ericsson, a leading maker of mobile broadband infrastructure, said Wednesday the cuts were part of a savings plan announced in November "with an ambition to reduce operating expenses and cost of sales across all Ericsson's operations."
The cost cuts are expected to take full effect in 2017.