Ericsson Cuts 2,200 Jobs To Save Over $1 Billion by 2017, Improve Networks Margins

Global networking giant Ericsson announced earlier this year that it is planning to cut 2,200 jobs, as a part of its cost and efficiency program. In a recent update, the company said that this program was progressing, as over 1,700 employees (mainly in R&D) were given notices in June and were soon to leave the company. Following the completion of this round of job cuts, Ericsson will have reduced its Swedish workforce by a sizable 10%, saving almost $301 million by the end of Q2 2015 and about $...