Ericsson to cut 1500 jobs in Sweden amid downturn

Advertisement
By Agence France-Presse | Updated: 7 November 2012 15:38 IST
Swedish telecom equipment maker Ericsson announced on Wednesday that it intends to shed 1,550 jobs in Sweden in an effort to boost profits.

The company had told investors on Tuesday that it would take action to improve profitability which had suffered from the signature of contracts offering low margins but increased market share.

The cuts, amounting to 9.0 percent of staff in Sweden, would fall widely, affecting people in sales, administration, research and development and procurement, but the networks division would be hardest hit, the company said.

The group employs 17,768 people in Sweden. Worldwide, the cuts amount to 1.5 percent of total staff of 109,214.

Advertisement

Ericsson said that it had not determined the timetable but that talks with staff representatives had begun.

Advertisement

The group also said that it would reduce sharply the number of consultants and temporary staff.

 

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.

Further reading: Ericsson, telecom equipment maker
Advertisement

Related Stories

Popular Mobile Brands
  1. Samsung Galaxy S26+ Reportedly Listed for Sale Online Ahead of Launch
  2. Poco X8 Pro Spotted on Geekbench With This Dimensity 8000 Series Chipset
  3. Oppo K14x 5G With 6,500mAh Battery Goes on Sale in India: See Price, Offers
  4. Lava Bold N2 Will Be Launched in India on This Date: See Expected Specs
  5. Xiaomi 17 Series Leak Hints at Imminent Launch Ahead of MWC at These Prices
  6. AI Impact Summit: From Registration to Schedule, All You Need to Know
  7. Anthropic's First Indian Office in Bengaluru Is Now Open
  8. Deals on iPhone 17, Google Pixel 10 and More During Flipkart Sale
  9. Realme P4 Lite India Launch Date, Design, Colourways, Key Features Revealed
  1. Sony Could Reportedly Delay PS6 to as Late as 2029 Due to RAM Shortage
  2. iPhone 18 Series to Drop SIM Card Slot in Europe to Make Room for Slightly Larger Battery: Report
  3. Poco X8 Pro Spotted on Geekbench With MediaTek Dimensity 8500 Ultra SoC, Android 16
  4. Xiaomi 17, Xiaomi 17 Ultra Global Price Details, Launch Date and Colour Options Leaked
  5. X Building Smart 'Cashtags' to Let Users Check Cryptocurrency Prices in Real-Time
  6. Samsung Galaxy A27 5G Listing on IMEI Database Suggests a Galaxy A26 Successor Is on the Way
  7. Anthropic Inaugurates First Indian Office in Bengaluru, Starts Hiring Local Talent
  8. Apple Tipped to Adopt Samsung's Privacy Display Technology for MacBook Models by 2029
  9. Oppo Find X10 Series Tipped to Launch in H2 2026 With Built-In Magnets for Wireless Charging
  10. AMD and TCS to Co-Develop Helios AI Data Centre Architecture, Deliver 200MW Data Centre Blueprint
Gadgets 360 is available in
Download Our Apps
Available in Hindi
© Copyright Red Pixels Ventures Limited 2026. All rights reserved.