700 jobs under threat as Ericsson site closes in Coventry
About 700 jobs are under threat after telecommunications giant Ericsson announced plans to close its research and development site in Coventry,
The site at Ansty Park is expected to close by 2010, and is the closure is part of a global cost-cutting strategy at the Swedish firm.. Ericsson said it was moving the work done in Coventry to sites in other countries.
In January this year, Ericsson announced it would be cutting costs by £875 million.
A consultation with unions and employees has been launched, but Ericsson said it expects the plant to close down completely.
Mats Granryd, the head of market unit north western Europe at Ericsson, said: "These proposals represent sad news we have for our employees in Ansty Park, Coventry, today.
"We have to work continuously to increase efficiency and lower our cost base whilst ensuring we deliver solutions designed to meet our global customers’ needs.
"This is obviously a difficult time for our Coventry-based workforce. However, it is vital that the company continues to concentrate its research and development and global services organization to improve efficiency."