(Reuters) -Swedish telecom equipment maker Ericsson has laid off about 100 Canada-based technical employees, citing a need to streamline costs and a broader strategy to consolidate its global
Ericsson Cuts Approximately 100 Jobs in Canada to Reduce Costs
(Reuters) -Swedish telecom equipment maker Ericsson has laid off about 100 Canada-based technical employees, citing a need to streamline costs and a broader strategy to consolidate its global workforce, the Globe and Mail reported on Monday.
The employees were told Monday morning they would be given severance packages and job transition support, with their final work day being October 31, the report said, citing sources.
Reuters could not immediately verify the report and Ericsson did not immediately respond to a request for comment.
Ericsson spokesperson Nathan Gibson told the Globe and Mail that the company's job cuts in Canada will bring together the its network management services team in the country with the company's global operations, leveraging common tools, processes and scale.
The Stockholm-based company in its second-quarter results said its restructuring charges for 2025 are expected to remain at elevated levels.
Its quarterly operating profit, excluding restructuring charges, was 7.0 billion crowns ($748.70 million) against a year-earlier loss of 11.9 billion and a mean forecast of 6.1 billion in an LSEG poll of analysts.
($1 = 9.3496 Swedish crowns)
(Reporting by Harshita Meenaktshi in Bengaluru; Editing by Alan Barona)
