Ericsson could shed 25,000 jobs in cost-cutting drive: report

Ericsson could shed 25,000 jobs in cost-cutting drive: report

Ericsson could shed 25,000 jobs in cost-cutting drive: report

STOCKHOLM (Reuters) – Mobile telecom gear maker Ericsson may lay off around 25,000 employees outside Sweden as part of its savings program, Swedish daily Svenska Dagbladet reported on Thursday, citing unidentified sources at the company.Ericsson said in July it would accelerate measures to meet a target of doubling its 2016 underlying operating margin of 6 percent and that it aimed to reach an annual cost reduction run rate of at least 10 billion crowns ($1.2 billion) by mid-2018.Ericsson has said actions will be taken primarily in service delivery and common costs while research and development would be largely unaffected.

Källa: Ericsson could shed 25,000 jobs in cost-cutting drive: report

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