Ericsson’s CEO Hans Vestberg is under mounting pressure to resign, after poor second quarter results compounded existing shareholder discontent. An 11% year-on-year drop in revenues saw the Swedish giant admit that it needed to double its previous targets for cutting costs and jobs, immediately suggesting that the firm had made a mistake in refusing to engage in the consolidation which has affected the network equipment market for the past few years. The biggest of those deals, of course, was the acquisition of Alcatel-Lucent by Nokia, but at the time, Ericsson said it would not follow suit, as large takeovers were too disruptive. Instead, it opted for a wide-ranging alliance, in technology, sales, marketing and R&D, with Cisco. Faced with the…