UPM to lay off 870 workers in Finland
The world's largest magazine paper maker UPM-Kymmene Corp. said Tuesday it will lay off 870 workers in Finland and close plywood and sawmills as the economic downturn continues to hit the industry.
The telecoms infrastructure firm Ericsson is to lay off 5,000 workers, after its results for the fourth quarter of 2008 showed a 31 percent year-on-year drop in profits.