Ericsson slashes 5,000 jobs, blames Sony partnership

With profits tumbling 31%, Ericsson just announced its intent to shed 5,000 jobs across the globe (1,000 in Stockholm). The loss resulting from a “dramatic drop” in contributions from its Sony Ericsson joint venture. The 5k figure represents about 6% of Ericsson’s 79,000 employees. (Engadget)