Ericsson to shed 1,600 jobs in Sweden

Ericsson plans to cut some 1,600 jobs in Sweden, the telecoms equipment group said ‌on ‌Thursday. Ericsson has been steadily reducing headcount over ‌the last three years to maintain profitability as it grappled with a decline in 5G spending and the impact of U.S. import tariffs.

The company ​said the proposed staff reduction ‌was ‍part of global initiatives to ‍improve its cost position while maintaining investments ‌critical to technology leadership.

Ericsson has submitted a notice to the Swedish Public Employment Service and initiated negotiations with relevant trade unions.