FX.co ★ Ericsson Announces Headcount Reduction Of Approximately 1,200 In Sweden

On Monday, LM Ericsson, commonly known as Ericsson, heralded planned employee cuts in Sweden as the company anticipates a difficult mobile networks market in 2024 due to an expected decrease in volume.

This move is a component of global efforts to improve the cost position, encompassing workforce reductions, while continuing to invest in areas essential to maintaining Ericsson's technological dominance.

Simultaneously, the company will persist with initiatives to boost operational efficiency throughout 2024.

Besides staff reductions, the cost-saving efforts will span various domains such as minimizing consultants, streamlining processes, and cutting back on facilities.

As a part of these ongoing worldwide initiatives, Ericsson has now declared a downsizing of around 1,200 employees in Sweden. The company has begun negotiations with the unions.