Additional cost saving measures include a reduction of consultants, streamlining of processes and reduced facilities, said Ericsson
In anticipation of a challenging mobile market 2024, Ericsson has announced plans to cut its workforce in Sweden by 1,200. In a statement, the company explained that the move is part of its “global initiatives to improve the cost position… while maintaining investments.”
Additional cost saving measures include a reduction of consultants, streamlining of processes and reduced facilities. All of this, the statement continued, is to address expected “further volume contraction as customers remain cautious” and to manage “lower volumes.”
In August 2023, the company announced the shut down its self-provided U.S. field services operations as of October 1, and a staff reduction of more than 750 people from its North American workforce. The company cited costs and a downturn in market demand as the reason for its exit from providing its own field services techs.
Ericsson’s 2023 annual report revealed a global headcount decreased by more than 5,500 to 99,952, largely due to cost reduction activities.
