Business

Ericsson to cut 8,500 jobs worldwide

Telecom equipment maker Ericsson said Friday it would slash 8,500 jobs worldwide, part of a cost-cutting program as financial headwinds push operators to rein in spending.

Business

Samsung quarterly profits plunge to 8 year low on demand slump

Samsung Electronics said Tuesday that its fourth-quarter operating profits plunged nearly 70 percent, the biggest drop in more than eight years, as the global economic slowdown dealt a blow to electronics and chips sales.