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Ericsson: 1200 job cuts in Sweden

( - Ericsson has announced a reduction in its workforce of around 1,200 in Sweden, as part of restructuring measures 'aimed at improving its costs, while maintaining the investments essential to its technological leadership'.

As previously indicated, the Swedish telecoms equipment supplier 'expects a difficult mobile network market in 2024, with a further contraction in volumes as customers remain cautious'.

In addition to job cuts, cost reduction initiatives cover various areas such as reducing the number of consultants, streamlining processes and downsizing facilities.

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