Ericsson Cuts Staff, Nokia Closes Shops
The rivalry in the telecommunication market has gone really intense lately with companies sueing each other and many facing big losses in profit.
Two mobile companies from Scandinavia – Nokia and Ericsson have decided to cut down costs.
They seem to try to slow the effects of the crisis. Ericsson announced to lose about thousand jobs in Sweden.
Nokia on the other hand, has decided to close some of their stores in New York and Chicago.
At this stage of fragile recovery, restructuring remain on the agenda for Ericsson, which cuts 1,000 jobs in Sweden, and Nokia closed the shops instead in New York and Chicago.
Ericsson will close the plant instead of Gavle, north of Stockholm, and 90 positions at the site of Boras.
There has been some discussion of plans from Ericsson to move some of its production to their factories in countries, where the production is cheaper. One possible destination that has been mentioned in the news is Estonia.
We will see in the future, which company has made better decisions.