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Ericsson to axe 3,900 jobs in Sweden

EricssonAB on Oct. 4 unveiled plans to slash about 3,900 jobs in as part of ongoing cost-saving measures.

The job cuts will affect the tech firm's operations in sixsites across the country and include about 1,000 positions in production, about800 in research and development, and about 1,200 in other group and supportfunctions. Ericsson also wants to cut the number of its consultants in Swedenby 900.

The job cuts will be executed by combining voluntary andforced reductions with outsourcing and other alternative measures.Ericsson is continuing its consultations with unions on the proposed jobreductions, which are expected to end at the latest during the second half of2017.

Meanwhile, Chief Strategy and Technology Officer UlfEwaldsson said Ericsson is planning to hire about 1,000 engineers in Swedenover the next three years to support company efforts to develop newtechnologies.

First announced in July, Ericsson's cost and efficiencyprogram seeks to generate savings of 9 billion Swedish kronor by 2017. Theprogram involves, among others, the implementation of a new company structureand limiting production operations to fewer sites worldwide.

As of Oct. 3, US$1 wasequivalent to 8.56 Swedish kronor.