Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Local Syrian sources: An Israeli airstrike targeted a tank and artillery battalion in the city of Izraa in the Daraa countryside
Al Mayadeen's correspondent in eastern Lebanon: 12 martyrs and 5 wounded in Israeli raids targeting the outskirts of Wadi Fa'ra in the northern Bekaa Valley
Local Syrian sources: More than 10 Israeli raids targeted Sweida, with information about more than five casualties from the Internal Security Forces
Local Syrian sources: Initial reports indicate that approximately 15 people were killed or wounded at the al-Radwan family's guest house in Sweida following a direct exchange of gunfire
Israeli media, citing Israeli political sources, reported that the Shas movement is expected to withdraw from the government within less than 24 hours
Qatari Foreign Ministry: Negotiations to reach a ceasefire in the Gaza Strip are still in the first stage. We are continuing our efforts around the clock
Channel 14, citing a senior Israeli political source, reported: The attacks in Syria and Tel Aviv's offensive policy are coordinated with the Americans
Lebanese Ministry of Health's Emergency Operations Center: Six injured as a result of Israeli airstrikes on the Bekaa Valley in eastern Lebanon
Israeli media: The Israeli Air Force has launched a wave of large-scale attacks on southern Syria
UNRWA: One in 10 children in Gaza suffers from malnutrition

Ericsson joins nationwide layoff trend, slashes 8% of workforce

  • By Al Mayadeen English
  • Source: Agencies
  • 24 Feb 2023 21:02
2 Min Read

The Swedish company says the measure are part of a cost saving plan adopted by the company following a 17% dip in profits in 2022.

  • x
  • Ericsson joins nationwide layoff trend, slashes 8% of workforce
    Ericsson headquarters in Stockholm, Sweden on October 20, 2022 (AFP)

Sweden's Telecom giant Ericsson announced on Friday that it will cut 8,500 jobs worldwide, almost 8% of its 105,000 workforce, as the company aims to slash costs after disappointing returns in 2022.

"We see potential to simplify and become more efficient across the company, especially in structural costs. But we are also working on our service delivery, supply, real estate and IT," Ericsson Spokesperson Jenny Hedelin told AFP.

Most of the layoffs will take place in the first half of 2023 and the rest in 2024, as the company proceeds with its $860 million cost-saving scheme adopted in 2022.

Related News

Trump threatens 100% secondary tariffs on Russia, sets deadline

Netherlands launches $58mln fund in quest to recruit top researchers

Read more: Ericsson allocates $220mln for ISIS-related corruption case

The company announced earlier this week that 1,400 of the cuts were in Sweden.

According to Ericsson's 2022 financial report, the group's net profit fell by 17.2% to 19.1 billion kronor - or $1.8 billion - as the global economy witnessed an abrupt slowdown in the past few years and rising inflation, which prompted service providers to delay 5G projects.

"It will, however, unfortunately also result in a need to address headcount. We believe a total of 8,500 positions will be affected", Hedelin pointed out.

Read more: Staff reductions across Silicon valley after hiring at breakneck speed

  • Europe
  • technology
  • Sweden
  • telecom companies
  • Ericsson

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025
This satellite image from Planet Labs PBC shows damage after an Iranian attack at the al Udeid Airbase outside of Doha, Qatar, June 25, 2025 (Planet Labs PBC via AP)

Satellite images show Iran attack damaged US comms dome in Qatari base

  • Politics
  • 11 Jul 2025
An Israeli soldier abandons an excavator during an ambush by al-Qassam Brigades. Arabic text reads "The moment the soldier fled", July, 10, 2025 (Al Qassam Military Media)

Israeli media rue al-Qassam footage, alarmed by fighters among troops

  • Politics
  • 11 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Syrian government forces deploy at the Mazraa village on the outskirts of city of Sweida, where clashes erupted between Bedouin clans and Druze factions, southern Syria, Monday, July 14, 2025 (AP)
Politics

Gulf-backed negotiations underway in Syria's Sweida to end clashes

UN: 798 Palestinians killed while trying to reach aid in Gaza
Palestine

UN: 798 Palestinians killed while trying to reach aid in Gaza

A damaged car is seen at a field that was hit in an Israeli airstrike in Nabi Sheet village, in Lebanon's eastern Bekaa Valley, Wednesday, August 21, 2024 (AP)
Politics

Hezbollah condemns Israeli Bekaa massacre, urges action from Lebanon

Palestinians walk next to the closed humanitarian aid distribution center of UNRWA, the UN agency helping Palestinian refugees in Jabaliya, Gaza Strip, on Tuesday, April 29, 2025 (AP)
Politics

Israeli regime cuts electricity, water supplies to UNRWA Gaza offices

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS