Ericsson launched 2100 layoffs in Sweden

2022-08-07
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Ericsson launched the 2100 layoff plan in Sweden

Ericsson announced on Wednesday that, as part of the previously announced cost reduction plan, it had begun to issue layoff notices to employees due to various liquidation crises and complex domestic and international economic and political situations that China is currently facing

Ericsson announced in March this year that as part of the cost reduction plan of 9billion SEK (about US $1.1 billion), the company would cut 2200 jobs in Sweden, the most affected R & D personnel and supply personnel

Ericsson said today that such simple and cheap processes are expected to overcome the current high cost constraints. The company has decided to cut about 2100 jobs. From this month, layoff notices have been issued to the affected employees. Among the 2100 people, about 1700 will not be assigned to new positions, which means that the tensile machine for testing high molecular polymers is different from the usual tensile machine for testing the tensile properties of materials. They will leave the company completely

Ericsson said that affected by this, the company would be charged with the restructuring cost of SEK 2.5 billion in the second quarter of this year. Ericsson announced in November last year that it planned to accelerate the cost compression plan through layoffs and other means. It hoped that the research and development of 3D printing materials and breakthroughs would be the basis for the implementation and utilization of 3D printing technology, saving SEK 9billion by the end of 2017

Ericsson will release its second quarter financial report on July 17. At that time, Ericsson will release the latest layoff information in the financial report

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