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Ericsson CEO says around 1,000 staff to leave as firm quits modems

18
Sep
2014

STOCKHOLM (Reuters) – Top mobile telecoms gear maker Ericsson’s decision to quit the modems business will mean around 1,000 staff will have to leave the company, its chief executive said on Thursday. The business, which Ericsson took sole ownership of from joint venture partner STMicroelectronics a year ago, employs around 1,600, some of whom will be transferred to research and development within radio networks, Ericsson said. …

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