Swedish telecoms firm Ericsson said it was cautiously optimistic about a rebound in the industry yesterday but did not rule out further job cuts.

The company, which employs 2,200 people in the Republic, is seeking a further 140 redundancies at its Dublin operation following 100 job losses this year.

Ericsson chief executive, Mr Kurt Hellstrom, told journalists in France the firm saw that things could change for the better and it was "cautiously optimistic". Mr Hellstrom did not rule out some further job cuts in the company.

Technology in business: mobile phone sales, page 10