Investing
Ericsson to lay off 1,200 people in Sweden
![](https://personalfinancedefined.com/wp-content/uploads/2023/02/LYNXNPEC0Q0MJ_L.jpg)
© Reuters. FILE PHOTO: Ericsson logo is displayed on the company’s headquarters building in Stockholm, Sweden, January 23, 2024. TT News Agency/Henrik Montgomery via REUTERS/File Photo
COPENHAGEN (Reuters) – Sweden’s Ericsson (BS:) on Monday said it would lay off about 1,200 employees in Sweden as a way of cutting costs, citing a challenging mobile networks market and lower volumes this year.
After a few years of high demand for 5G equipment, buying by telecom providers has slowed, prompting firms such as Ericsson and Nokia (HE:) to lay off thousands of employees to save costs.
Ericsson has begun negotiations with unions, it said in a statement.
The company had told Reuters in January it could look at further cost cuts this year including layoffs but without giving a specific number.
Read the full article here
![](https://personalfinancedefined.com/wp-content/uploads/2023/02/pf-logo.png)
-
Personal Finance5 days ago
Americans reveal their biggest financial regret about potential retirement
-
Investing6 days ago
Israel stocks lower at close of trade; TA 35 down 0.88% By Investing.com
-
Side Hustles6 days ago
5 Key Strategies for Attracting and Retaining Top Talent
-
Passive Income4 days ago
5 Ways to Push Past Your Comfort Zone
-
Passive Income5 days ago
How to Keep Your Apps Up to Date
-
Make Money6 days ago
A Labor Day Salute to You — the American Worker
-
Personal Finance6 days ago
Fed interest rate cuts won't help your credit card debt
-
Passive Income6 days ago
Work Smarter with 12 Months of Microsoft 365 for Just $45