Ericsson

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26 - Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
60,000 jobs
Number of planned job losses
Job loss
Announcement Date
1 March 2001
Employment effect (start)
Foreseen end date
1 December 2004

Description

Ericsson had 107,000 employees in March 2001, when a cost-cutting programme was launched to respond to the harsh trading environment. Since this programme was launched, Ericsson has reduced its staff from 107,000 workers to 53,400 today through various job-reduction plans. The downward trend in the number of employees will go on in 2004 as the company aims to reduce the current figure to 47,000 by the end of the year.

Sources

  • 29 April 2003: Third Quarter Report 2003
  • 17 September 2002: Annual Report 2001

Citation

Eurofound (2001), Ericsson, Internal restructuring in World, factsheet number 59506, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/59506.