Ericsson is Cutting 1400 Jobs in Sweden to Cut Costs
Swedish telecom equipment manufacturer Ericsson is cutting about 1,400 jobs in Sweden. The company wants to save costs because the demand for telecom products, such as equipment for cell towers, is levelling off.
According to a spokeswoman, the layoffs are based on voluntary departure.
Last December, Ericsson announced that it wanted to save 9 billion Swedish kronor this year, the equivalent of more than 800 million euros.
In addition to wage costs, the company wants to spend less by, among other things, cutting back on the number of consultants and buildings and on software development.
As far as is known, the company is only cutting jobs in Sweden. Worldwide, the company has more than 105,000 employees.