Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Swedish Telecom multinational, Ericsson, has announced a global restructuring plan which will cut 8500 jobs from its workforce. Outside of lower than expected 2022 fourth quarter earnings and plans to cut operational costs, it is unclear what is driving the restructuring.
The company has not detailed all locations for job cuts, but 1400 will be in Sweden. North America and India are also said to be where a large portion will take place. The restructuring processes for employees or if social partners will be involved has not been specified. However, the CEO has stated that job reductions will be processed according to the standards of each country they occur in.
The restructuring in Sweden has been recorded in the ERM database (Ericsson-2023-SE).
Eurofound (2023), Ericsson, Internal restructuring in World, factsheet number 108614, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108614.