1,200 jobs cut by Ericsson in Sweden

Ericsson Announces Job Cuts in Sweden: Tough Times for the Telecommunications Industry

Ericsson, a leading telecommunications equipment supplier, has announced plans to cut 1,200 jobs in Sweden, which accounts for around 8.6% of its workforce in the country. The company attributed this decision to the challenging mobile network market and predicted further volume contraction as customers remain cautious. These job cuts are part of global initiatives aimed at improving the company’s cost position, including a reduction in the use of consultants.

The telecommunications equipment industry has been facing tough times with slower growth in India’s 5G rollout and decreased investment from telecom operators in North America. Last year, Ericsson reported a significant net loss of 26.1 billion Swedish crowns (2.3 billion euros) due to write-downs of US company Vonage and restructuring charges.

To address these challenges, Ericsson has launched strategic initiatives aimed at improving its position in the global telecommunications market. Despite the difficult economic conditions, the company remains committed to long-term sustainability by making tough decisions now. By reducing costs and streamlining operations, Ericsson hopes to strengthen its competitive edge and maintain its position as one of the top three mobile network providers worldwide, alongside China’s Huawei and Finland’s Nokia.

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