After failing to make enough quarterly profits, Ericsson, the world’s biggest mobile network maker, decide to cut thousands of jobs.
Recently, there have been some problems with the Sony Ericsson joint venture; it seems that collaboration between them starts to disintegrate. In any case, on February, Ericsson announced it will cut jobs in order to reduce costs; they aim to reduce about $588 million in costs.
The decision made, about 1000 people in Sweden alone will be fired and globally, there will be about 4000 job losses. And rumors go further saying that about 200 Ericsson employees in Spain will be fired.
Additionally, Ericsson will cut about 500 jobs in Germany and Britain.
There you go, one of the world’s biggest company cuts jobs ferociously.