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Slashed profits push Ericsson into more job cuts

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Slashed profits push Ericsson into more job cuts

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A 92 percent fall in fourth quarter profit has prompted mobile phone maker Ericsson to announce an extra 1,500 job cuts. That news comes after the 5,000 positions shed last year. The group’s net income was just over 30 million euros in the last three months of 2009, down from nearly 400 million euros a year earlier as the company restructures.