Ericsson to cut up to 4,000 jobs in Sweden: report
TT/AFP/The Local · 4 Oct 2016, 08:58
Published: 04 Oct 2016 07:25 GMT+02:00
Updated: 04 Oct 2016 08:58 GMT+02:00
- Ericsson to end manufacturing in Sweden? (22 Sep 16)
- Fired Ericsson boss to get millions in payouts (25 Jul 16)
- Thousands of layoffs feared as Ericsson announces cuts (20 Jul 16)
Ericsson announced in April that it would target structural changes by expanding an existing nine billion kronor ($1 billion) global cost and efficiency programme to bolster efficiency and growth.
"The government has been informed of Ericsson's plans which consist of putting in place its largest cost-saving plan in its recent history," reported SVT, citing a source close to the matter.
"A fifth of its workers must leave the group" in Sweden, it added.
The company has around 116,000 employees worldwide, including 15,000 in Sweden. It has so far declined to comment on the reports.
The newspaper report came after Ericsson fired chief executive Hans Vestberg in July after seven years in the post.
Under his guidance, the company struggled to fend off competition from rivals Nokia, Siemens and Alcatel-Lucent, and to gain ground in saturated and competitive markets such as Europe and North America.
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