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Ericsson slashes 2,200 jobs in Sweden

Ericsson slashes 2,200 jobs in Sweden
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The Swedish telecom equipment outfit Ericsson has announced it’s cutting 2,200 jobs in Sweden.

The redundancies, mainly in research and development, are part of its latest cost-cutting programme.

Ericsson said in November it aimed to cut annual costs by nearly a billion euros, with full effect in 2017. The program will entail restructuring charges of around half a billion euros between 2015 and 2017.

At the end of 2014, Ericsson employed 118,000, including 17,580 in Sweden and around 25,700 in R&D globally. Only India had more Ericsson employees than Sweden, at close to 20,000.