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
Al Mayadeen's correspondent: Israeli raids targeted a cement plant, an asphalt factory, and fuel tanks in the Ansar area in South Lebanon
Al Mayadeen's correspondent: A series of violent Israeli raids targeted the outskirts of the town of Ansar
Al Mayadeen's correspondent: Israeli warplanes raided the outskirts of the town of Shmestar in Bekaa, eastern Lebanon
Donald Trump will speak with Russian leader Vladimir Putin on Thursday: White House
Al Mayadeen's correspondent in South Lebanon: Israeli warplanes raid the town of Bnaafoul, Saida district
YAF: Israeli enemy will pay for this crime.
Yemeni Armed Forces: Son of Major General Al-Ghamari martyred alongside him in Israeli aggression.
Yemeni Armed Forces: YAF mourns martyrdom of Chief of the General Staff Mohammad Abd al-Karim al-Ghamari.
Al Mayadeen's correspondent: Palestinian shot and killed by IOF east of Al-Bureij camp in the central Gaza Strip
Al Mayadeen's correspondent in South Lebanon: Occupation forces opened machine gun fire toward outskirts of Aitaroun as locals headed for olive harvest.

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

Wild bee species at existential risk in Europe doubles in past decade

IMF head flags US budget, Europe defense spending challenges

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

Iran strikes secret Israeli-US bunker under Tel Aviv high-rise

Tel Aviv high-rise struck by Iran hid Site 81, secret US-Israeli base

  • Politics
  • 14 Oct 2025
Palestinian journalist Saleh al-Jaafarawi in an undated image in Gaza, occupied Palestine (Social media)

Gaza Palestinian journalist Saleh al-Jafarawi killed by collaborators

  • Politics
  • 12 Oct 2025
drop site

New report details extensive Israeli arson in Gaza after ceasefire

  • Politics
  • 13 Oct 2025
Illustration of fists breaking shackles, representing the liberation of Palestinian detainees from Israeli prisons. (Illustrated by: AL Mayadeen English/Batoul Chamas)

4 prominent Palestinian detainees to be freed: Who are they?

  • Palestine
  • 13 Oct 2025

Coverage

All
War on Gaza

Read Next

All
A person shops at a grocery store in Schaumburg, Ill., Thursday, September 18, 2025. (AP Photo/Nam Y. Huh)
Economy

75% of Americans report higher costs despite Trump’s inflation claim

With the government shutdown now in its third week, a sign turns away tourists at the entrance to the Capitol Visitor Center, in Washington, Wednesday, October 15, 2025. (AP Photo/J. Scott Applewhite)
Politics

US judge blocks shutdown layoffs amid Trump threats to cut jobs

Bill Ackman speaks about higher education and Harvard University at the twenty-eighth annual Milken Institute Global Conference at the Beverly Hilton in Beverly Hills, California, on May 6, 2025. (Patrick T. Fallon / AFP via Getty Images)
Politics

Bill Ackman donates $1 mln to anti-Mamdani PAC in NYC mayoral race

Members of the Pentagon press corp carry their belongings out of the Pentagon after turning in their press credentials, on October 15, 2025 in Washington. (AP Photo/Kevin Wolf)
US & Canada

Pentagon journalists vacate workspaces as new restrictions take effect

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