Equipment maker Ericsson said it will cut 5,000 jobs in a cost-saving measure, in addition to outsourcing and hiring fewer consultants and temporary staff.

Ericsson also said it will consolidate its R&D facilities, move to fewer software platforms and replace its own hardware less often.

The company said its fourth-quarter profit was $465 million, down 17% from the previous year, although sales jumped 23% compared with the fourth quarter last year, to more than $8 billion.

The related Sony-Ericsson handset venture announced a quarterly loss of $248 million last week.