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Ericsson announces layoffs, 1400 employees will be fired globally- Ericsson News Update

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Headline:- 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.

In Short

  • Ericsson announces layoffs.
  • Ericsson cuts 1000 plus jobs.
  • Ericsson announces layoffs after Google and Microsoft.

Ericsson announces layoffs, plans to fire 1400 employees globally

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.

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 thousand in other countries, are likely to be announced in the coming days, said two sources close to the matter.

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