Ericsson plans to lay off 1,400 workers
- February 20, 2023
- 0
Ericsson, the world leader in telecommunications equipment and carrier solutions, said it plans to cut around 1,400 jobs in Sweden as part of a broader worldwide cost reduction
Ericsson, the world leader in telecommunications equipment and carrier solutions, said it plans to cut around 1,400 jobs in Sweden as part of a broader worldwide cost reduction plan for the company.
As reported by Ukrinform, this was reported by Reuters.
The company had previously announced plans to cut costs by SEK 9 billion ($880 million) by the end of 2023 due to slowing demand in some markets, including North America.
According to the interlocutors, new layoffs, numbering several thousand in other countries, are likely to be announced in the coming days.
Ericsson last made major cuts in 2017 when it laid off thousands of employees and focused its efforts on research to recover the company from losses.
The company has been in talks with the Swedish labor union for months on how to deal with cost cuts.
An agreement has been reached with the Swedish unions that Ericsson plans to implement the planned reduction through a voluntary layoff program.
As reported by Ukrinform, the Russian subsidiary of Swedish telecommunications equipment manufacturer Ericsson has signed an agreement to sell its customer support business to the former local government-owned company.
Source: Ukrinform
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