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How Ericsson’s Cost Savings Program Helped 1Q18 Margins

How Ericsson’s Cost Savings Program Helped 1Q18 Margins

Ericsson (ERIC) posted improved losses in the first quarter of 2018, driven by company’s cost-cutting efforts. During the quarter, the company laid off 3,000 workers. Employee reduction is part of the company’s cost-cutting program. Ericsson has been cutting down its workforce since July 2017. It has reduced its employees by almost 18,000.