Ericsson slashes 450 Swedish jobs
Published: 23 Mar 11 12:19 CET | Print version
Online: http://www.thelocal.se/32770/20110323/
Swedish mobile telecom network giant Ericsson announced on Wednesday that 450 positions are to be cut in its sales and administration operations in Sweden.
- 350 jobs lost as Ericsson shuts Swedish factory (22 May 13)
- Ericsson probed over suspected bribes (21 May 13)
- Revamp dampens Ericsson profits (24 Apr 13)
The company said the cuts were necessary following a new structure put in place in 2010 and according to which "certain competences within sales and administration moved closer to clients."
Ericsson's head of human ressources in Sweden said it was "a very sad decision" to cut staff in Stockholm and Gothenburg but said the company has started a process to recruit some 250 engineers for activities in Sweden.
At midday on Wednesday, the company's stock was up just over 1 percent to 78.0 kronor ($12.3) on a Stockholm stock exchange up 0.52 percent.
Ericsson's headquarters are in Stockholm and the company has some 17,848 employees in Sweden and 90,000 worldwide.
It is the market leader in mobile network equipment ahead of Finnish-German giant Nokia Siemens, French-based telecom equipment maker Alcatel-Lucent and China's Huawei.
What do you think? Leave your comment below.
Sweden 'fails to help well-educated foreigners'
The white-collar union Saco has lambasted Sweden's Employment Agency for its failure to help well-educated, foreign-born job seekers, whose unemployment rate is more than three times the average for people born in Sweden. READ () »
Mixed results for Sweden refugee job push
Fifteen percent of refugees in Sweden who enrolled in the new establishment system the past two years have gone on to find jobs, new figures show, leading some observers to worry that the low success rate will place a burden on the benefits system. READ () »
Riksbank unveils new board members
Sweden's central bank has appointed two new board members plucked from banking and academia to replace two outgoing members, one of whom was an outspoken critic of the Riksbank's commitment to the government's inflation goal. READ () »
350 jobs lost as Ericsson shuts Swedish factory
Swedish telecom giant Ericsson has buckled under the pressure of European competition and will turn off the switch on a cable production plant in Sweden, leaving 350 employees without jobs. READ () »
Sweden has 'lower tax burden' than Senegal
While Sweden has a reputation for having one of the most painful tax bills in the world, a new report ranks Sweden 20th when comparing the tax burden on salaries when social security payments and salary brackets are taken into account. READ () »
Ericsson probed over suspected bribes
Swedish telecom equipment maker Ericsson is suspected of having bribed ministers in Romania in connection with being awarded a contract for the country's emergency number and is now under investigation in the United States. READ () »
Warning over 'long-term' Swedish export slump
Sweden's largest business confederation has gone out guns blazing, criticizing politicians for not facing up to the challenges of "a lost year for Swedish exports" in 2012. READ () »
'Lean hospital a sign of Swedish welfare reform'
A Stockholm hospital saved from closure by private health care providers has been hailed by the Economist as one of modern's Sweden public-private success stories. READ () »
H&M mulls production in South America and Africa
Swedish clothing giant H&M is looking into the possibility of sourcing its production to South America, Central America, and even Africa, chief executive Karl-Johan Persson said on Monday. READ () »
Nord Stream plans new gas pipelines
Gas pipeline firm Nord Stream will hold an information meeting on the Baltic island of Gotland on Monday to introduce a proposal to extend its controversial gas pipeline project. READ () »
- 17/05 Solna voted best place to live in Sweden »
- 17/05 Ikea founder rated fifth richest in the world »
- 17/05 LinkedIn profile lands Swede with hefty tax bill »
- 16/05 India in no rush to open first Ikea store »
- 16/05 H&M CEO to Bangladesh: raise minimum wages »
- 15/05 Sweden plummets in income equality ranking »
- 15/05 Pensioners to recruit ageing Swedish rockers »
- 15/05 Swedish shop hits back: our Converse are real »
- 15/05 Young Swedes forced to live with mum and dad »
- 14/05 Converse in bid to ban 'fake' shoes in Sweden »
| 24/05 | Accounts Payable to Bosch RexrothAcademic Work Danmark | Malmö |
| 24/05 | Analog Field Application EngineerArrow EMEA | Kista, STHM |
| 24/05 | Corporate Sports Sales Executivesmarcus evans (Scandinavia) ltd. | Stockholm |
| 24/05 | INTERNATIONAL SALES EXECUTIVEmarcus evans (Scandinavia) ltd. | Stockholm |
| 24/05 | Online Functional DesignerVattenfall AB | Umeå |
| 24/05 | Regional Sales Manager - Nordic EMEA (Mobility)Citrix | Sweden - Stockholm - Stockholm |
| 24/05 | Senior Platform Specialist to Rovio StockholmExperis IT | STHM |
| 24/05 | Technical Product Manager PokerOngame Services AB | Stockholm, STHM |
| 24/05 | Test CoordinatorAker Advantage | Bærum/Tranby |
| 24/05 | Trainee in UmeåCinnober Financial Technology North AB | Umeå, VTB |
- 24/05 IEA: protect consumers from energy price hikes »
- 24/05 German consumers keep recession at bay »
- 23/05 Tax evasion 'OK for Joe Normal' say Germans »
- 22/05 Spain and Germany fight youth employment »
- 21/05 Car boss asks Merkel to rethink CO2 pledge »
- 21/05 SAP to hire hundreds of autistic IT experts »
- 18/05 Economists warn against German euro exit »
- 17/05 Germany cool to France's EU economy plan »
- 17/05 Au pairs rules relax for non-German families »
- 16/05 Germany refuses to slam French economic policy »
- Corporate Sports Sales Executives
- INTERNATIONAL SALES EXECUTIVE
- Online Functional Designer
- Regional Sales Manager - Nordic EMEA (Mobility)
- Accounts Payable to Bosch Rexroth
- Test Coordinator
- Analog Field Application Engineer
- Senior Platform Specialist to Rovio Stockholm
- Technical Product Manager Poker
- Trainee in Umeå
- 15:16 Husby Riots and violence against the police...
- 14:35 Questions regarding partner visa
- 12:33 Is it save to keep money at forexbank?
- 04:24 Gym memberships without a personnummer?
- 00:35 Restaurant Inspection Scores
- 00:32 Moving to Sweden (Questions) HELP
- 00:13 Moving to Sweden from England
- 23:58 Living costs in London
- 21:05 Astra 2F (SKY TV)
- 20:20 Adobo- Filipino Recipe
Find products and services that are specifically focused on English speakers living in Sweden!
FULL DETAILS
Individuals & Couples - Stockholm Beth Rogerson PhD - Clinical, Marriage & Family Therapist
Click or call 08-5580 1266 now
Create an account with Banc De Binary, the world’s most reputable binary options firm, and start cashing in today! You can start by practicing with our free $50,000 demo account.
www.bbinary.com
Expat counsellor & talk therapist offers counselling for stress, relationship issues, sexuality, culture adjustment & life coaching. Private & confidential. Stockholm or Skype. Contact me today! 08-559 22 636 or
CLICK HERE
Your comments about this article:
The comments below have not been moderated in advance and are not produced by The Local unless clearly stated. Readers are responsible for the content of their own comments. Comments that breach our terms and conditions will be removed.
The management has only one answer to the threat from Chinese vendor Huawei - downsizing and cost cutting... They have lost the battle already as they will never ever be able to compete on price and cost with the Chinese. Since they have given up to beat them with service and features I guess they will be unable to turn around the trend. Lost in the low cost trap...
that is your misunderstanding, Huawei isn't all all low cost comparing to Ericsson or Nokia Siemens, if you count all the internal dividend they pay out to the employees, the realistic overhead is far more expensive than you can imaging.
if you look into the sales figure for q4 2010, Nokia Siemens is gaining grounds again, positioning no. 2 in the world mobile infrastructure equipment market, passing Huawei.
The jobs are being lost in Sweden, yes.
However they are hiring people to do the exact same jobs outside Europe and not always at lower salaries, contrary to what is normally in the media.
Swedish companies are doing the the exact same thing as US companies. They are starting to offshore jobs.
Would love to go back to an Ericsson. Can't justify the cost though.