Ericsson begins further layoffs in Sweden

Ericsson has announced it will cut 1,200 jobs in its home market of Sweden as a part of cuts announced earlier this year, with the company citing a "challenging mobile networks market in 2024."

"In addition to the headcount reduction, the cost-saving initiatives cover various areas such as reduction of consultants, streamlining of processes, and reduced facilities, while Ericsson keeps executing on its strategy to achieve a higher growth trajectory and to reach the long-term margin targets, through leadership in mobile networks and a focused expansion into enterprise," said Ericsson in a statement.

Ericsson confirmed it is in discussions with unions over the layoffs. The vendor added that its aims to "increase operational efficiency will continue during 2024. However, it didn't confirm what segment of the business would be impacted by the job losses, nor did it give a timeframe.