Ericsson is expected to cut-down 380 jobs, as it plans to close down its telecom cable unit, say news reports.
The closure of the telecom cable unit will primarily affect the vendors’ operations in Hudiksvall and Stockholm in Sweden.
The company’s cable unit which manufactures cable unit has not been operating at full capacity for sometime now and has been struggling to make profits. Ericsson’s decision to close down the unit has come as a result of lower sales on account of declining market for copper cables in Europe.
