Ericsson employees make way for young blood

About 910 Ericsson employees have agreed to leave the telecommunications giant to make room for a new batch of new, young engineers.

The workers, all over 35, will receive 18 months salary, 50,000 kronor in cash and professional help in finding a new job when they quit.

“We have already employed 70 people and are going to hire another 300 this year and as many next year,” said Marita Hellberg, Ericsson’s head of personnel, according to TT. “We had set a ceiling of 1,000 employees (to leave under the deal), so we are happy with the result.”

About 70 percent of those who quit are between 30 and 50 years old, the rest are over 50 years old. The employees come from all over the company and, on average, have been an Ericsson employee for 13 years.

The deal was available to 17,000 of the company’s 21,000 workers in Sweden.

Just the cash offered to those leaving will cost 45 million kronor. The 18 months of salary and counseling has been estimated in the past to approaching 4 billion kronor.