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2010-01-25 07:51:26
Swedish telecoms equipment group Ericsson has said it is cutting an extra 1,500
jobs, as it reported a 92% fall in quarterly profits.
Hit by the cost of its restructuring work, and a continuing drop in orders, its
net profit for October to December was 314m kronors ($43m; 27m).
This compares with 3.89bn kronors for the same quarter in 2008.
The latest 1,500 job cuts come on top of the 5,000 positions that the company
shed last year.
Ericsson said the cost of its continuing restructuring work totalled 4.3bn
kronors between October and December, and 11.3bn kroners for 2009 as a whole.
Its sales for the last quarter of 2009 fell by 13% to 58.3bn kroners, as global
spending on telecoms equipment continued to fall, and as Ericsson faced
increased competition from China's Huawei.