Ericsson to Cut 1,400 Jobs in Sweden

Ericsson to Cut 1,400 Jobs in Sweden
The Ericsson logo is seen at the Ericsson's headquarters in Stockholm, Sweden, on June 14, 2018. Olof Swahnberg/Reuters
Reuters
Updated:
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STOCKHOLM—Telecoms gear maker Ericsson plans to cut about 1,400 jobs in Sweden as part of a broader plan to reduce costs globally, it said on Monday.

The company had earlier announced plans to cut costs by 9 billion crowns ($880 million) by the end of 2023 as demand slows in some markets, including North America.