Ericsson, a major Swedish manufacturer of telecommunications equipment, confirmed to RIA Novosti that it plans to cut about 1,400 jobs in Sweden, negotiations with trade unions on this issue have already been completed.
“Negotiations with Swedish trade unions have now been completed, and an agreement has been reached on how to work to reduce the number of staff. We intend to carry out staff reductions as part of a voluntary program in Sweden. The proposed reduction will affect approximately 1,400 positions in Sweden,” the press service told the agency. Ericsson.
The company recalled that it had previously announced a decision to cut costs by SEK 9 billion (over $860 million).
“The cost savings cover various areas, such as reducing the number of consultants, streamlining processes, reducing production capacity and so on. As previously announced, this will also include a reduction in headcount,” Ericsson explained.
As of December 31, 2022, the company had 105,529 employees.
Ericsson is a Swedish company providing communication network technologies, digital services, advanced technical support and network maintenance services. The headquarters is located in Stockholm.