More job cuts expected at Ericsson
Anyone left to um, answer the phone?
The industry bush telegraph is predicting more job cuts at Ericsson ahead of its Q1 earning figures on Friday. The FT pins the figure at 6,000, while Yahoo! cites Swedish news agency Tidningarnas Telegrambyra which puts the toll at 30,000. That improbably high figure represents a third of Ericsson's workforce - the company employed 105,129 at the end of last year.
And it may, we suspect, include some double counting: Ericsson has dispensed with two thirds of its consumer products workforce - half moving to its systems division, the rest to outsourcing manufacturer Flextronics.
Ericsson's "Back to Profits" programme is scheduled to put the company back into the black by the second half of this year.
And to prove it never rains but pours, Ericsson temporarily withdrew the first production batch of its R520 GPRS Bluetooth phone last week after teething trouble. ®