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WSJ Tech News Briefing

TNB Tech Minute: AT&T Drops Nokia for Ericsson in $14 Billion Deal

WSJ Tech News Briefing

The Wall Street Journal

News, Tech News

4.31.7K Ratings

🗓️ 4 December 2023

⏱️ 2 minutes

🧾️ Download transcript

Summary

Plus: General Motors’ Cruise has been ordered to testify before the California Public Utilities Commission over an October incident in which a pedestrian was hit. And Spotify plans to lay off 17% of its staff. Alex Ossola hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Here's your T&B Tech Minute for Monday, December 4th.

0:05.0

I'm Alex Oscela for the Wall Street Journal.

0:07.5

This is our new afternoon roundup of the day's big tech headlines.

0:11.0

AT&T has struck a deal to buy up 14 billion dollars of hardware from Swedish equipment

0:17.2

supplier Ericsson.

0:18.7

The five-year agreement would move virtually all of AT&T's new purchases of some cell tower equipment to Ericsson, replacing

0:25.6

existing machinery from Finnish rival Nokia in many places.

0:29.6

The Dallas-based Telecom Giant says it plans to start the swap next year and aims to have 70% of its wireless

0:35.8

network traffic passing through open platforms by late 2026.

0:41.2

General Motors Cruz has been ordered to testify before the California Public Utilities Commission.

0:46.0

Over allegedly misleading comments it gave to regulators about an incident in October in which a pedestrian was hit.

0:52.0

The CPUC said the self-driving car in which a pedestrian was hit.

0:53.0

The CPUC said the self-driving car company omitted critical information about the safety of its vehicles regarding the incident.

1:00.0

In a statement, a spokesman for Cruz said it is committed to rebuilding trust with regulators.

1:04.7

And Spotify plans to layoff 17% of its staff or about 1,500 employees in its third round

1:12.2

of layoffs this year.

1:14.0

CEO Daniel Ek announced the cuts to staff today.

1:17.3

In a letter to staff, Ek said Spotify had been squeezed by slower economic growth as well

1:22.2

as interest rate increases.

1:24.0

The company expects the fresh round of layoffs to help it reach its profitability target faster.

1:29.0

For a deeper dive into what's happening in tech, check out Tuesday's Tech News Briefing Podcast.

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