(Reuters) – Ericsson announced on Tuesday plans to shut its telecom cable manufacturing facility in Sweden and would take a 500 million Swedish crown ($75 million) charge as a result.
The company said it had given notice of a reduction of 354 positions. It said the market for copper cable had declined while fiber cable demand had grown over the last years, with production shifting towards Asia.
news via inbox
Sign up to get the latest updates straight to your inbox!
