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Ericsson plans to lay off 1,200 employees to reduce costs to cope with the challenge.
Against the backdrop of a forecast decline in the mobile network market in 2024, the company is worried about shrinking sales. The job cuts are part of an effort to contain falling sales and it has begun talks with unions over the losses.
The company also plans to improve operational efficiency through other measures. Despite the layoffs, Ericsson will maintain investment in technological advancements.
This is another layoff following the company’s large-scale layoffs in 2017, which reflects the challenges faced by the technology industry generally.
(Source: selular Image source: freepik)
