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Ericsson reports down Q2 but increase in network sales

In the past year, Ericsson has cut some 20,500 positions, with more than 2,000 job cuts in the second quarter of this year. The workforce reductions are part of a plan to reduce costs by more than $1 billion.

“These are tough but necessary actions to ensure competitiveness,” President and CEO Börje Ekholm said. Noting run-rate savings, he said “the effect is gradually becoming visible in the earnings, mainly through lower service delivery costs and common costs…We will continue our efficiency activities throughout the year.”

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