08:16 AM EDT, 03/25/2024 (MT Newswires) -- Ericsson (ERIC) said Monday it is planning to lay off roughly 1,200 employees in Sweden as part of its cost-cutting measures.

The company has started negotiating with the unions, Ericsson added.

Along with headcount elimination, the cost-saving plan will also include reductions of consultants and facilities, and streamlining processes, the company said.

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