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Ericsson announces layoffs, disappointing Q1

Ericsson late last week announced a 90% decrease in profits for the first quarter. The Sweden-based mobile phone company also said it would lay off as many as 12,000 additional workers — 2000 from its handset division — to bring its job-cut total for the year to as much as 20,000.

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© 2012 Penton Media Inc.

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