Ericsson Shuts UK Plant
Sweden's telecommunications giant Ericsson is axing 700 jobs at its plant in the West Midlands of England.
The firm said it was withdrawing its research and development and global service delivery activities from its operation in Coventry by mid 2010 as part of its ongoing global cost cutting measures, effectively closing the plant which only opened in May. Workers there were said to be shocked.
"These proposals represent sad news we have for our employees in Ansty Park, Coventry," said Mats Granryd, head of Ericsson's North Western Europe market division, in a company statement.
"We have to work continuously to increase efficiency and lower our cost base whilst ensuring we deliver solutions designed to meet our global customers' needs."