Ericsson to lay off 1,200 people in Sweden amid challenging market

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COPENHAGEN (Reuters) -Sweden's Ericsson on Monday said it would lay off about 1,200 employees in Sweden as a part of costs cuts announced earlier this year, ...

COPENHAGEN -Sweden's Ericsson on Monday said it would lay off about 1,200 employees in Sweden as a part of costs cuts announced earlier this year, citing a challenging mobile networks market and lower volumes in 2024.

"As previously stated, Ericsson expects a challenging mobile networks market in 2024, with further volume contraction as customers remain cautious," the company said in a statement. -- Initial public offerings are back. Maybe.Most Read from BloombergUS Homebuyers Expecting $10,000 Savings Face Tough RealityFed’s Powell Ready to Support Job Market, Even If It Means Lingering InflationHarassment and Drugs Plagued a Citigroup Division for YearsTrump Facing Moment of Truth for Finances in Manhattan CourtLast week was a potential watershed moment for the long-dormant IPO market, as a pair of technology darlings — Reddit Inc. and Astera Labs Inc.

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