STOCKHOLM (AP) — Ericsson said Tuesday it will cut 3,000 jobs in Sweden, or nearly 20 percent of its local workforce, and will downsize operations at several plants as part of its global plan to cut costs by 9 billion kronor ($1 billion) in 2017.

The Swedish networks company employs 115,000 people globally, of which 16,000 in Sweden, and said the layoffs are a necessary part of its transformation to meet "fast technology shifts and the digitalization of the telecom industry." The cuts wil...


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