Ericsson To Cut 1,400 Jobs In Sweden
Date
2/20/2023 8:11:47 AM
(MENAFN- Trend News Agency) Telecoms gear maker Ericsson plans to cut about 1,400 jobs in
Sweden as part of a broader plan to reduce costs globally, it said
on Monday, trend reports with reference to reuters .
The company had earlier announced plans to cut costs by 9
billion crowns ($880 million) by the end of 2023 as demand slows in
some markets, including North America.
Further job cuts, numbering several thousands in other
countries, are likely to be announced in the coming days, said two
sources close to the matter.
Ericsson last made deep cuts in 2017 when it laid off thousands
of employees and focused on research to pull the company out of
losses.
The company was negotiating with its employee union in Sweden
for months on how to handle cost cuts.
Agreement has now been reached with Swedish unions on how to
manage headcount reductions, a spokesperson said, adding that the
company intends to make the cuts through a voluntary programme.
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