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Report: Ericsson closing down last of Swedish manufacturing, axing 3,000 jobs

  • Ericsson (ERIC +1.3%) will shutter the last of its Swedish plants, resulting in 3,000 job cuts, according to daily Svenska Dagbladet.
  • That ends 140 years of production in Sweden, dating to telegraph days. The 3,000 employees make up just about 2.5% of the company's workforce.
  • The company employs about 17,000 workers in Sweden. Svenska Dagbladet said that manufacturing facilities in Boras and Kumla, which focused on the company's network products division (the company's biggest) will be closed.

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