At the end of last year, the company employed a total of 105,000 people worldwide.
Accelerating the implementation of the $860 million cost-cutting plan presented last year, Ericsson says most of the jobs will be cut in the first half of this year, with the rest next year.
The company will eliminate 1,400 jobs in Sweden.
“Ericsson” worked with a net profit of 19.1 billion Swedish crowns (1.7 billion euros) last year, which is 17% less than in 2021.
The drop in profits is attributed to the fact that telecom operators are cutting back on spending on the latest 5G networks amid a slowdown in global economic growth and rising inflation.
The technology sector is currently experiencing a serious downturn, and several large companies have announced large-scale job cuts, including Facebook’s parent company Meta, social network Twitter, and e-commerce company Amazon.
