Ericsson plans to lay off 1,400 employees in Sweden to cut costs

Telecom networking company Ericsson is planning to lay off at least 1,400 employees or 10 per cent of its workforce in Sweden after negotiating with unions.

The company said in a statement on Monday that the company intended to conduct the job cut process through a voluntary programme after closing negotiations with employee unions, reports Barron’s.

“Reducing headcount is never easy, and we will manage this with the utmost respect and professionalism. Further details are always communicated to the relevant staff first,” Ericsson said.

“The cost savings cover various areas such as reduction of consultants, streamlining of processes, reduced facilities, etc. As previously announced, it will also include head-count reduction,” Ericsson added.