Multinational telecom operator Ericsson which carries 40% of the worlds mobile traffic on its networks and is Swedens second largest company by revenue reported another disappointing quarter last month.
As response, the troubled companys new CEO Börje Ekholm announced costs cuts of 10 billion SEK ($1,25 bn) per year. He did not say how many jobs were at stake.
Now insider sources have provided details to Svenska Dagbladet (SvD), indicating that Ericsson’s restructuring will be more brutal than expected.
The Swedish newspaper reports that there are advanced plans to cut Ericssons operations by 80-90 percent in some markets, and centralize several European markets. However, the 14,000 employee-strong Swedish wor…
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