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1'000 jobs to be eliminated from Ericsson
As evertiq has previously reported, Ericsson will discontinue its future development of modems and shift parts of resources in modems to radio network R&D. Which will result in the layoff of about 1'000 employees.
While the number isn't exact, CEO Hans Vestberg told Reuters that the decision would mean that around 1'000 employees would be leaving Ericsson.
The market for mobile modems is a tough one. Earlier Broadcom withdrew from the market and last week Ericsson decided to follow. Falling prices and higher demands on technology as well as the shrinking market is said to be some of the reasons for the exit.
