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Ericsson to slash jobs

  • Ericsson (NASDAQ:ERIC) says it will eliminate 3.9K jobs in its home nation of Sweden as it looks to cut costs and stay competitive in the long term.
  • Slowing demand for 4G mobile network infrastructure has taken a toll on Ericsson recently as the industry preps for 5G development.
  • Shares of Ericsson are down 25% this year in Stockholm trading.

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Telefonaktiebolaget LM Ericsson (publ)
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