Telecoms gear maker Ericsson plans to cut about 1,400 jobs in Sweden as part of a broader plan to reduce costs globally, it said on Monday.
Ericsson logo is seen at its headquarters in Stockholm, Sweden June 14, 2018. REUTERS/Olof Swahnberg//File Photoplans to cut about 1,400 jobs in Sweden as part of a broader plan to reduce costs globally, it said on Monday.to cut costs by 9 billion crowns by the end of 2023 as demand slows in some markets, including North America.
Further job cuts, numbering several thousands in other countries, are likely to be announced in the coming days, said two sources close to the matter. Ericsson last made deep cuts in 2017 when it laid off thousands of employees and focused on research to pull the company out of losses.Agreement has now been reached with Swedish unions on how to manage headcount reductions, a spokesperson said, adding that the company intends to make the cuts through a voluntary programme.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Defense minister: Finland could join NATO ahead of SwedenFinland’s defense minister says his country will join NATO without waiting for Sweden if its Nordic neighbor's accession is held up by the Turkish government.
Read more »
Defense minister: Finland could join NATO ahead of SwedenMUNICH (AP) — Finland’s defense minister said Saturday that his country will join NATO without waiting for Sweden if its Nordic neighbor’s accession is held up by the Turkish government .
Read more »
Is Sweden now the frontrunner to host the 2030 Olympics?Sweden is now leading the race to host the 2030 Winter Games, at least according to The Associated Press.
Read more »
Bol breaks long-standing world indoor 400m recordNetherlands' Femke Bol ran the 400 metres in 49.26 seconds at the Dutch Indoor Championships in Apeldoorn on Sunday to break one of the longest-standing world records in track and field.
Read more »
New Voices Shake Up Scandinavian CinemaWhile Sweden’s Ruben Östlund grabbed some Oscar nominations and took home Cannes’ Palmed’Or last year, two other Scandinavian filmmakers basked in the international spotlight following their Cannes…
Read more »
In Railroad Workers' Fight, Democrats Must Show Whose Side They're Really OnBernie Sanders clutched both sides of the sturdy wooden podium at the UAW Local 578 hall in Oshkosh, Wisconsin, as he prepared to address a packed house of 400 union workers, students, campaign staff, and curiosity seekers. Looking like a cross between a history professor and a professional wrestle
Read more »