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Ericsson layoffs (NASDAQ:ERIC) are the talk of Wall Street today after one of the world’s largest 5G network equipment providers announced it will eliminate 1,200 jobs in Sweden, citing lower sales from mobile providers.
What do you need to know about ERIC job cuts lately?
Well, in an announcement this morning, Erikcsson stated it was still in the midst of negotiations with labor unions over the nature of its firings.
Today’s news comes as a followup to earlier warnings Ericcson has offered, noting that its market has dwindled dramatically outside of China, with investment from some operators at “unsustainably low” levels.
“As previously stated, Ericsson expects a challenging mobile networks market in 2024, with further volume contraction as customers remain cautious,” the company…
