Ericsson recently announced it is planning to cut 8,500 jobs as part of its cost-cutting measures.
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Ericsson announced on Monday that it will lay off around 1,200 employees in Sweden as the telecom company faces slowed demand for its 5G equipment.
The company said the downsizing is part of a broader cost-cutting plan this year that will include more efforts to boost efficiency. Last year, the company laid off 8,500 staffers, or about 8% of its workforce, to cut costs.
“The cost saving initiatives cover various areas such as reduction of consultants, streamlining of processes, and reduced facilities,” Ericsson said in a statement Monday, adding that it had begun negotiations with unions.
Ericsson had 99,950 employees, including 10,744 workers in North America, at the end of last year, according to an SEC filing.
Monday’s announcement comes as companies…
