Ericsson revealed plans to reduce staff numbers in Sweden by 1,200, as part of a wider cost-cutting drive in response to continued challenging market conditions.
In a statement the vendor cited previously voiced concerns about the expected performance of the mobile networks market in 2024 with “further volume contraction as customers remain cautious”. It added the move was in-line with “managing lower volumes”.
Ericsson noted it had initiated negotiations with unions over the losses.
The vendor also announced other measures designed to improve operational efficiency would continue during the year. This comes after it accelerated a drive to cut overheads in December 2022.
Alongside losing 1,200 of its employees in Sweden the company expects to cut overheads from streamlining and cutting use of consultants. It, however, aims to maintain investments deemed critical to its technological advances.
In recent months Ericsson executives have regularly bemoaned the state of the RAN market with CEO Borje Ekholm in January forecasting there would be further market decline outside of China over the course of 2024.
According to the company’s 2023 annual report it decreased its global headcount by over 5,500 to 99,952, with the decrease largely attributed to cost reduction activities.
The post Ericsson to cut jobs at home as dour market takes its toll appeared first on Mobile World Live.
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