STOCKHOLM, Sept 21 Mobile telecoms equipment
maker Ericsson plans to close the last of its Swedish
manufacturing sites, cutting around 3,000 jobs in the country,
Swedish daily Svenska Dagbladet reported on Wednesday.
Manufacturing facilities in the cities of Boras and Kumla
will be closed, the paper reported citing internal documents,
ending 140 years of production in Sweden for the company which
began as a producer of telegraph and telephony equipment.
The affected jobs are in the network products division which
is the company's biggest business area, the paper said.
Ericsson, which has about 120,000 employees worldwide -
including 17,000 overall in Sweden - has seen demand stagnate in
developed markets where the most advanced networks have mostly
already been built.
It said in July it would roughly double cuts in operating
expenses to adapt to a weaker market, meaning annual savings of
some 10 billion Swedish crowns ($1.17 billion)from the second
half of 2017 compared to 2014.
It did not say at the time how planned cost cuts would
Ericsson was not immediately available for comment.
($1 = 8.5625 Swedish crowns)
(Reporting by Mia Shanley; Editing by Toby Chopra)