It is considering large, additional cost cuts due to slowing markets and is planning to give notice to between 3,000 and 4,000 staff this summer, and thousands more may have to leave the company later. Ericsson reaffirmed it was on track to reach previously announced annual cost savings of 9 Bn crowns by 2017 compared with 2014 levels.

Ericsson to lay off thousands of staff this summer

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