Telecoms gear maker Ericsson
In the third quarter, Ericsson's (Stockholm, Sweden) core profit fell 42 percent due to slower orders and a shift in business mix to less profitable contracts and the company said it would focus on cost cuts.
It gave no details of how the job cuts would affect annual costs. The company has nearly 18,000 employees in Sweden.
(Reporting by Simon Johnson. Editing by Patrick Lannin)