Ericsson will lay off 3,000 this summer, report says
Ericsson is two years into a three-year cost-cutting program -- but needs to make still greater savings. 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.