700 JOBS TO GO AS ERICSSON QUITS CITY; Firms shock cost-cutting move.Byline: Les Reid TELECOMMUNICATIONS giant Ericsson is pulling out of Coventry, with 700 job losses. Staff at the Swedish firm's fourmonth-old base at Ansty Park were stunned stun tr.v. stunned, stun·ning, stuns 1. To daze or render senseless, by or as if by a blow. 2. To overwhelm or daze with a loud noise. 3. by the devastating dev·as·tate tr.v. dev·as·tat·ed, dev·as·tat·ing, dev·as·tates 1. To lay waste; destroy. 2. To overwhelm; confound; stun: was devastated by the rude remark. announcement. It is a huge blow for the city's hopes to develop its economy with thousands of new highlyskilled manufacturing jobs. Ericsson moved to Ansty Park from Allard Way. The move was expected to attract thousands more jobs to the site which is near Walsgrave and close to the M6. But Ericsson's UK managing director Mats Granryd said yesterday that under the cost-cutting proposals the work would go to China, India or Europe, and Coventry staff could relocate re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. abroad. Consultation with unions was getting underway today. Full story, Page 5. |
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