Investing
Ericsson to lay off 1,200 people in Sweden
© 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
-
Make Money7 days ago
4 Tips to Grow a Side Hustle While Working Full Time (and Have a Life)
-
Passive Income7 days ago
How to Ensure AI Is Being Used Ethically in Your Business
-
Side Hustles5 days ago
NHTSA Investigates Tesla Full Self-Driving Feature
-
Investing5 days ago
Taiwan Semi to generate $110 billion in 2025 revenue: Needham By Investing.com
-
Investing5 days ago
Teen Brothers’ $1.2M Business Began as Facebook Side Hustle
-
Side Hustles5 days ago
3 Ways Data Can Drive Sustainable Decision-Making in Business
-
Personal Finance5 days ago
A growing share of Gen Z adults don't think they'll retire: only 20% are saving for it
-
Make Money6 days ago
4 Ways to Get $10 in Sam’s Club Cash for Free This Week