Stockholm-based Ericsson has frozen hiring and announced plans to slash more than 15,000 jobs after its profits declined partly because of a global economic slowdown. The company, a cornerstone of Swedish industry, also is divesting other holdings and transferring its mobile phone production to Singapore-based Flextronics International, while keeping control of research and development. Officials said that deal would not be affected by the Sony connection. The Associated Press Get your MBizCentral news delivered by e-mail newsletters. Printer friendly version.
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