# Ericsson to cut 1,400 jobs in Sweden
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-02-20
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Ericsson to Cut 1,400 Jobs in Sweden Amid Global
Meta Description: Telecoms giant Ericsson to reduce costs by cutting jobs in Sweden as demand slows globally. More job cuts expected in other countries.
URL: https://financedigest.com/ericsson-to-cut-1400-jobs-in-swedenhtml

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STOCKHOLM (Reuters) -Telecoms gear maker Ericsson plans to cut about 1,400 jobs in Sweden as part of a broader plan to reduce costs globally, it said on Monday.

The company had earlier announced plans to cut costs by 9 billion crowns ($880 million) by the end of 2023 as demand slows in some markets, including North America.

Further job cuts, numbering several thousands in other countries, are likely to be announced in the coming days, said two sources close to the matter.

Ericsson last made deep [cuts in 2017 when it laid off thousands](https://www.financedigest.com/meta-plans-to-cut-thousands-of-jobs-as-soon-as-this-week-bloomberg-news.html "Meta plans to cut thousands of jobs as soon as this week – Bloomberg News") of employees and focused on research to pull the company out of losses.

The company was negotiating with its employee [union in Sweden for months on how to handle cost cuts](https://www.financedigest.com/telecom-italia-in-talks-with-unions-on-up-to-2000-job-cuts-in-italy.html "Telecom Italia in talks with unions on up to 2,000 job cuts in Italy").

[Agreement has now been reached](https://www.financedigest.com/adnami-signs-agreements-with-schibsted-and-amedia-to-deliver-high-impact-ads-with-unparalleled-reach-across-the-nordics.html "Adnami signs agreements with Schibsted and Amedia to deliver high impact ads with unparalleled reach across the Nordics") with Swedish unions on how to manage headcount reductions, a spokesperson said, adding that the company intends to make the cuts through a voluntary programme.

(Reporting by Supantha MukherjeeEditing by David Goodman)


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