Ericsson to lay off 1,200 in home country Sweden amid ‘challenging’ market in 2024

NEW DELHI: Ericsson is laying off 1,200 people in its home country Sweden to improve its cost position as the gear maker expects a challenging mobile networks market in 2024, with a further contraction in volume as customers remain cautious.

“In line with managing lower volumes, Ericsson today announces proposed staff reductions in Sweden,” the Swedish gear maker said in a media statement. To this extent, it has entered into negotiations with the employee unions.