(MENAFN) Ericsson telecom giant announced it will slash 2,200 jobs in Sweden as part of a global cost-cutting and restructuring program it approved, Xinhua reported.
The cutbacks affect mainly research and development, service delivery and supply. Ericsson will also cut down on sales and administration jobs as well as bring down external costs.
Ericsson's cost and efficiency program was first announced in November 2014 and will run through 2017 globally. The intention is to make savings of around USD1.04 billion.
"This is a global program. Today, we are talking about Sweden, but there are also improvements in efficiency and other changes in many more places around the world," Ericsson CEO said.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.