Ericsson is reportedly considering slashing 25,000 jobs outside its native Sweden as part of its ongoing effort to cut costs. Sales decreased by 8% year over year and revenue was down 7.7%. Reuters cited a report from the Swedish daily Svenska Dagbladet, which pointed to unidentified company sources. Ericsson was particularly challenged in the second quarter by slowing growth in Europe and some emerging markets, analysts at Wells Fargo Securities noted. In May the company announced that Rima Qureshi, senior vice president and head of Market Area North America, had left the company.

Source: The North Africa Journal August 17, 2017 16:41 UTC