Telecom equipment maker Ericsson is looking at various measures, including job cuts, to increase operational efficiencies and reduce cost by SEK 9 billion ($1.2 billion) by 2017.
The Swedish firm in September had announced shutting down of its modems business that impacted as many as 1,582 people globally, including India. Ericsson is holding its Capital Markets Day in Stockholm, where it will give an update on progress on its Networked Society strategy, with focus on market development, growth agenda and profitability.
"We will continue to build on our combined strength of technology and services leadership to stay relevant to our customers in a transforming industry," Ericsson President and CEO Hans Vestberg said in a statement.