Sweden's Ericsson to Cut 1,550 Jobs
    2012-11-08 03:10:15     Xinhua      Web Editor: Fuyu
The Swedish telecom giant Ericsson announced on Wednesday to cut 1,550 jobs, which were nine percent of its total employees in Sweden.
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The Swedish telecom giant Ericsson announced on Wednesday to cut 1,550 jobs, which were nine percent of its total employees in Sweden.

The job reduction involved departments including sales, administration, research and development, production and services, reported the Swedish business daily Dagens Industri (DI).

The company's operation in Stockholm was most hit by the new cost saving plans, where Ericsson was going to lay off about 1,000 employees.

Even in Gothenburg, Sweden's second largest city, about 200 people were going to leave the company and it was only in a few smaller cities in Sweden where Ericsson's operations were not affected by the job reduction plan.

The company had already started to negotiate with the labor organizations on how to carry out the reduction and employees would be informed of personal confirmation on the issue in March of 2013.

The existing cost-saving plans of Ericsson would cut about 4 billion Swedish kronor (about 598 million U.S. dollars) this year.

According to Hans Vestberg, President and CEO of Ericsson, it was too early to say how much the cost of the new saving plans would be.

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