Ericsson AB, one of the world’s biggest providers of 5G networking equipment, said it will cut 1 200 jobs in Sweden to cope with lower orders and caution from mobile service providers.
The company also plans to cut costs separately by reducing facilities and the use of consultants and will streamline processes, it said in a statement on Monday. The company said it’s in negotiations with unions over the cuts, which represent about 8.6% of the Swedish headcount at the end of 2023.
European telecom equipment makers Ericsson and Nokia Oyj have struggled to rebound from a slowdown in spending across the mobile services industry. Ericsson warned earlier this year that its market outside of China would continue to decline in 2024 with investment by many operators remaining at “unsustainably low” levels.
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Mobile carriers are reducing network…
