Mobile telecoms equipment maker Ericsson plans to close the last of its Swedish manufacturing sites as part of planned savings, cutting about 3,000 jobs, according to a Swedish newspaper. David Pollard reports.
Ericsson to stop manufacturing in Sweden: report
It was a long climb to the top for Ericsson.
Staying there has proved the bigger challenge.
The Swedish mobile telecom gear maker struggling against rivals Nokia and Huawei …
Amid slower demand from Russia, Brazil, Nigeria and other key markets.
And now – another dent – to its domestic pride …
Reports suggesting it may be about to close its last manufacturing in Sweden – three thousand jobs to go.
It wouldn’t confirm the reports – but says it is to reduce its 120,000 staff worldwide – local workers not excluded.
One who’s already gone is CEO Hans Vestberg.
He stepped down in July – just as Ericsson said it would step up cost cuts already announced in 2014.
Seven consecutive quarters have seen declining sales.
After a 140-year company history there, Ericsson’s Swedish saga might be heading for its final chapters.