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Ericsson to stop manufacturing in Sweden: report | Webmarked News

Ericsson to stop manufacturing in Sweden: report

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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.

Tags : report, Sweden, manufacturing, stop, ericsson

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