Ericsson cuts 1,200 jobs due to 'difficult' market. Equipment manufacturers are suffering from a sharp slowdown in investments by telecom operators in North America.
Ericsson suffered a heavy net loss of 26.1 billion Swedish crowns (2.3 billion euros) last year due to the depreciation in its accounts of the American Vonage and restructuring charges. The Swedish group had already announced 8,500 job cuts in February 2023. Its competitor Nokia announced in October that it would cut up to 14,000 jobs out of 86,000 employees.