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Ericsson cuts 2,200 jobs in Sweden

Xinhua, March 12, 2015 Adjust font size:

Ericsson will slash 2,200 jobs in Sweden as part of a global cost-cutting and restructuring program, the telecom giant announced Wednesday.

The cutbacks affect mainly research and development, service delivery and supply. However, Ericsson will also cut down on sales and administration jobs as well as bring down external costs by sacking 850 consultants in Sweden.

"This is a global program. Today, we are talking about Sweden, but there are also improvements in efficiency and other changes in many more places around the world," Ericsson CEO Hans Vestberg told Swedish Radio. "Our industry is moving incredibly fast and we intend for Ericsson to remain a global leader," Vestberg said.

Ericsson's cost and efficiency program was first announced in November 2014 and will run through 2017 globally, the company said in a statement. The intention is to make savings of around SEK 9 billion (1.04 billion U.S. dollars).

Ericsson is a major supplier of mobile network infrastructure in the world. In the fourth quarter of 2014, it saw strong sales growth in the Middle East, Asia and Europe. The Swedish company is revamping from a supplier of hardware on networks to a provider of software via the Internet. Today, Ericsson concentrates on mobility, broadband and the cloud. Endit