Ericsson To Cut 1,200 Jobs In Sweden

Ericsson AB, a major 5G equipment provider, plans 1,200 job cuts in Sweden due to reduced orders.

Amid industry caution, cost reductions involve facility and consultant use reductions, along with process streamlining. Unions are in negotiations over the cuts, amounting to 8.6 per cent of the Swedish workforce.

Ericsson and Nokia Oyj grapple with a slow industry rebound and shrinking market outside China. Mobile carriers curb spending amidst tough European competition, while open radio access networks pose new challenges.

Previously, Ericsson announced 8,500 layoffs, and Nokia, 14,000, reflecting industry challenges.