Ericsson to axe 2,200 jobs

Mobile phone company Ericsson has announced that 2,200 jobs will be lost, in a bid to cut costs.

The Stockholm-based firm have said the job losses will mainly occur in research and development (R&D) and supply positions as well as some in "sales, general and administration", BBC News report.

Around 25,700 people work in R&D for the firm globally which last year said that it aimed to cut annual costs by around 9bn Swedish crowns (£0.7bn) by 2017.