Ericsson to cut up to 4,000 jobs in Sweden: report

October 04, 2016 - 11:00

Telecoms equipment maker Ericsson has notified Sweden’s government that it would announce on Tuesday the cutting of 3,000 to 4,000 jobs, Swedish public television SVT reported on Monday.

STOCKHOLM - Telecoms equipment maker Ericsson has notified Sweden’s government that it would announce on Tuesday the cutting of 3,000 to 4,000 jobs, Swedish public television SVT reported on Monday.

Ericsson announced in April that it would target structural changes by expanding an existing nine billion kronor (936-million-euro; $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.

In September Swedish newspaper Svenska Dagbladet reported Ericsson planned to end manufacturing in Sweden with the loss of around 3,000 jobs.

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. AFP

Tags Ericsson

Japan to oblige companies to set CO2 reduction targets

World

Teenage pregnancy on the rise in Thailand amid increasing cases of sexual assault

World

Thailand bans imports of plastic waste from January 1

World

Malaysian teenage boys more vulnerable to social media risks than girls, study shows

World

This industry is defying China’s retail slump, thanks to young people’s ‘emotional’ spending

World

New tourism trends seen in Thailand

More on this story

World

UN releases document on human settlement and urbanisation

A draft outcome document was introduced and discussed during a press conference organised by UN-Habitat – a United Nations human settlement programme – in Fukuoka, Japan.

World

Climate: Catholic groups divest from fossil fuels

Seven Catholic organisations on four continents announced in a joint communique Tuesday their divestment from fossil fuel companies in order to help curb the threat of global warming.

World

EU unveils aid plan for Syria’s Aleppo

The European Union has announced an aid plan for tens of thousands of civilians trapped in Syria’s war-ravaged city of Aleppo.

World

India ratifies historic Paris climate change pact

India, the world’s third biggest carbon emitter, ratified the Paris agreement on climate change on Sunday on the birthday of the country’s famously ascetic independence leader Mahatma Gandhi.

World

Void vote on migrants deals blow to Hungary’s anti-EU revolt

Hungary’s populist Prime Minister Viktor Orban has suffered a blow in his revolt against the European Union after low voter turnout voided his referendum aimed at rejecting a contested migrant quota plan.

World

Colombian voters nix peace deal in shock vote

World

Bunker-busting bombs close Aleppo underground schools: charity

Bunker-busting bombs are putting children in so much danger in Syria's Aleppo that they won't even be able to return to underground schools when classes resume this weekend, a charity said Friday.

World

United States investing in Niger air base

The United States is investing in a military air base capable of deploying drones in Niger's central city of Agadez, the Pentagon confirmed Thursday.

World

One dead, 114 hurt as New Jersey train crash causes major damage

A speeding commuter train that plowed into a New Jersey station during morning rush hour Thursday, killing one person and injuring 114, has caused major destruction at the transport hub and gateway to Manhattan.