Ericsson To Cut 5,000 Jobs, Blames Sony Partnership

Ericsson, placing blame on its partnership with Sony, has announced that it will cut 5,000 jobs.

With profits tumbling 31%, Ericsson just announced its intent to shed 5,000 jobs across the globe (1,000 in Stockholm). The loss resulting from a "dramatic drop" in contributions from its Sony Ericsson joint venture. The 5k figure represents about 6% of Ericsson's 79,000 employees.

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