Ericsson to shed 1,600 jobs in Sweden
The proposed staff reduction is part of global initiatives to improve its cost position
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[STOCKHOLM] Ericsson plans to cut some 1,600 jobs in Sweden, the telecommunications equipment group said on Thursday (Jan 15).
Ericsson has been steadily reducing headcount over the last three years to maintain profitability, as it grapples with a decline in 5G spending and the impact of US import tariffs.
The company said the proposed staff reduction was part of global initiatives to improve its cost position, while maintaining investments critical to technology leadership.
Ericsson has submitted a notice to the Swedish Public Employment Service, and initiated negotiations with relevant trade unions.
“Initiatives to increase operational efficiency will continue across the group, but will not be announced separately,” it said.
In Sweden, where Ericsson is based, the company had already announced plans to lay off 1,400 employees in 2023 and 1,200 in 2024. REUTERS
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