Ericsson, a leading telecom equipment supplier, has announced plans to cut 1,200 jobs in Sweden due to the challenging market conditions in mobile networks. The company stated that customer volumes are falling as customers continue to be cautious. This job reduction will result in 8 percent of the workforce being laid off. In addition to cutting jobs, Ericsson will also reduce costs by using fewer consultants and streamlining its processes.
The announcement comes after Ericsson announced similar job cuts last year, with Nokia also announcing cuts among its Swedish workforce. Despite the reductions, Ericsson continues to serve customers in Belgium such as Proximus, Orange, and Telenet. These companies turned to European suppliers like Ericsson and Nokia for network infrastructure after Chinese players were banned by authorities a few years ago.
Ericsson is not only cutting costs but also taking steps to address the changing market conditions in the telecom industry. The company remains committed to serving its customers and adapting to the evolving landscape of mobile networks. With these measures in place, Ericsson hopes to maintain its position as a leader in the telecom equipment supply industry while continuing to provide value to its customers.
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