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News Desk
Jobs Bloodbath Continues: Up To 4000 To Go at Ericsson
CEO: "There will possibly be 3,000 job cuts outside Sweden"

By: Wireless News Desk
Feb. 5, 2008 12:00 PM

Blaming slowing growth on lower network spending in Europe and North America, Ericsson Chief Executive Officer Carl-Henric Svanberg yesterday said the company will cut as many as 4,000 jobs globally, including 1,000 in its native Sweden. Additionally Svanberg, who became CEO in April 2003, conceded in a TV interview: "There will possibly be 3,000 job cuts outside Sweden."

According to Bloomberg reports this morning, Ericsson has fallen 47% in Stockholm trading since lowering sales targets twice in the fourth quarter.



Published Feb. 5, 2008— Reads 4,970
Copyright © 2008 SYS-CON Media, Inc. — All Rights Reserved.
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About Wireless News Desk
WBT News Desk brings you all the latest and greatest news from the world of wireless business and technology, including breaking news, technical articles and feature stories written by the world's leading experts of mBusiness.

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