Ericsson to axe 5,000 jobs

Ericsson to axe 5,000 jobs

January 21, 2017

Sweden-based telecoms giant, Ericsson, announced plans today to axe 5,000 jobs as part of a new cost cutting strategy.

The announcement came as the company reported a 31% fall in fourth quarter profits.

Despite a 23% rise in sales, fourth quarter earnings fell on year by 1.7 billion kronor to 3.9 billion kronor (€0.4 billion).

The job cuts will come through layoffs, reductions in the number of temporary staff and consultants, and consolidation of research and development sites, the company said.

Around 1,000 of the job cuts will be in Sweden, primarily in Ericsson’s Stockholm headquarters.

Ericsson said the cost cutting measures are necessary to ensure the survival of the company through the global financial crisis.

Tim Yeo

Related Posts

Sprint sets up Taiwan WiMax testing lab

Comments Off on Sprint sets up Taiwan WiMax testing lab

People think mobile multimedia is still too expensive

Comments Off on People think mobile multimedia is still too expensive

100,000 sign up to Blyk

Comments Off on 100,000 sign up to Blyk

Motorola to release its top phones in Taiwan

Comments Off on Motorola to release its top phones in Taiwan

SME Telecoms & Mobile Procurement Guide

Comments Off on SME Telecoms & Mobile Procurement Guide

BT reduces Total Broadband prices

Comments Off on BT reduces Total Broadband prices

More than half of European households are online

Comments Off on More than half of European households are online

GIPS powers Yahoo! Messenger VideoChat

Comments Off on GIPS powers Yahoo! Messenger VideoChat

UPA pushes on powerline applications

Comments Off on UPA pushes on powerline applications

HTC increase investment in Shanghai plant and decrease employee bonuses

Comments Off on HTC increase investment in Shanghai plant and decrease employee bonuses

PageOne Announces Release Of Contact

Comments Off on PageOne Announces Release Of Contact

Broadband Internet UK launches new broadband comparison site

Comments Off on Broadband Internet UK launches new broadband comparison site

Create Account



Log In Your Account