Ericsson cutting an extra 1,500 jobs (BBC)

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.

more at BBC

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