After A Tough Q3, Telecoms Kit Maker Ericsson To Cut ~9% Of Workforce In Sweden: 1,550 Jobs To Go In Cost-Cutting Drive

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http://techcrunch.com – Telecoms infrastructure company Ericsson has announced a big round of layoffs in a cost cutting drive after weathering a tough Q3, amid the global downturn. Reuters is reporting nearly nine percent of the company’s workforce in Sweden — 1,550 jobs out of a total of 17,768 — are to go. In Q3, Ericsson’s core profit fell 42 percent — attributed to slower orders and a shift in business mix to less profitable contracts, according to the news agency. At the time, CEO Hans Vestberg said Ericsson “will continue to proactively identify and execute additional effici (IT news)