Ericsson AB may be in the slump. Last week it announced a further 4000 job cuts, after the Swedish firm's quarterly earnings fell 42 percent and executives forecast a flat 2008. But its subsidiary Redback Networks Inc. is talking about expansion, reports Light Reading.
Redback hopes to use its R&D budget to take aim at Juniper Networks Inc. or Alcatel-Lucent for Number 2 spot in the telecom IP market. Former CEO Kevin DeNuccio denied he had been nudged aside. Instead, he said his former job has taken on an R&D angle he wasn't equipped to handle. In the new role as non-executive vice chairman, DuNuccio told Light Reading he would be in charge of business development--and possible acquisitions.
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- Ericsson cuts 4000 jobs Article