Ericsson plans retrenchment of 25,000 staff – Report

Ericsson plans to cut 25,000 jobs across the company as part of a restructuring programme, Business Insider reported.

This follows a disappointing set of quarterly results, which resulted in Ericsson’s CEO Börje Ekholm announcing cost cuts of 10 billion SEK per year.

Ericsson employs 109,000 people across 110 global offices. According to the report, Ericsson plans to slash operations by 80% in certain markets and centralise several European markets.

The company’s Swedish workforce of 14,000 people is to remain largely untouched. It’s R&D engineers will also be unaffected by the cuts, according to the report.

Ericsson has already cut 7,000 jobs over the past year, mostly in North America.

Now read: Ericsson to stop making modems

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Ericsson plans retrenchment of 25,000 staff – Report