The joint venture which tried to challenge Qualcomm and Intel in the baseband chip market has collapsed, with the loss of 1,600 jobs and another 3,000 or so finding themselves working for someone else. ST-Ericsson was set up, back in 2009, by STMicroelectronics and Ericsson and has been bleeding money ever since. It did create …
> Which leaves 1,600 staff whose jobs are being "restructured" - 500-700 across Europe
Including my next-door neighbour, poor guy. He's known for months, though.
The Way of the Ericsson
I'm fairly certain redundancy is actually Ericsson's core business and telecommunications is just a sideline.