Ericsson cuts another 2,000 jobs

Ericsson is cutting 2,000 jobs in Sweden.

It says the redundancies are in response to a massive slowdown in the telecoms market.

The new job losses mean the company has shed 4,000 staff in the last six months.

Ericsson started an efficiency programme in April with the aim of cutting costs by £1.32bn.

It says the cuts are essential to increase competitiveness in a worsening economic climate.

Today's announcement is part of a notification process required under Swedish law.

Of today's 2,000 redundancies, around 1,300 are being made in Stockholm; 100 in Gothenburg; and 600 in Gävle.

An update will be released when the company announces third-quarter financial results on Friday, October 26.

A company spokesman says: "Ericsson is shaping the future of Mobile and Broadband Internet communications through its continuous technology leadership.

"Providing innovative solutions in more than 140 countries, Ericsson is helping to create the most powerful communication companies in the world."