Ericsson Shares Surge Following Job Cuts as Swedish Unemployment Stagnates

Ericsson announced 1,600 layoffs in Sweden while distributing billions in dividends and initiating a 15 billion kronor share buyback, sparking criticism from unions regarding long-term innovation.The move comes as Swedish unemployment remains stuck at 9 percent and EU economic indicators suggest a weak recovery in the private sector.Meanwhile, the Swedish government is tightening teacher training requirements and the energy firm Eon has secured a major creative agency deal.