Ericsson Announces Headcount Reduction Of Approximately 1,200 In Sweden

(RTTNews) - LM Ericsson (ERIC) announced Monday proposed staff reductions in Sweden as it expects a challenging mobile networks market in 2024, with further volume contraction.

This measure is part of the global initiatives to improve the cost position, including headcount reductions, while maintaining investments critical to Ericsson's technology leadership.

Meanwhile, the company will continue initiatives to increase operational efficiency during 2024.

In addition to the headcount reduction, the cost saving initiatives will cover various areas such as reduction of consultants, streamlining of processes, and reduced facilities.

As part of these ongoing global initiatives, Ericsson now announces a headcount reduction of approximately 1,200 in Sweden. The Company has initiated negotiations with the unions.