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Tag: Ericsson

  • Ericsson to lay off 8,500 employees globally to cut costs

    Ericsson to lay off 8,500 employees globally to cut costs

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    London: Swedish telecom gear-maker Ericsson is laying off about 8 per cent of its workforce, around 8,500 employees, to cut costs in the ongoing global macroeconomic conditions, the media reported on Friday.

    According to an internal memo sent to employees, the company said the headcount reduction has been conveyed to employees in several countries.

    “We see a potential to simplify and become more efficient throughout the company, especially when it comes to structural costs,” a company spokesperson told Bloomberg.

    The telecom networking company earlier laid off at least 1,400 employees or 10 per cent of its workforce in Sweden after negotiating with unions.

    The company said in a statement earlier this week that the company intended to conduct the job cut process through a voluntary programme after closing negotiations with employee unions, Barron’s had reported.

    “Reducing headcount is never easy, and we will manage this with the utmost respect and professionalism. Further details are always communicated to the relevant staff first,” Ericsson said.

    “The cost savings cover various areas such as reduction of consultants, streamlining of processes, reduced facilities, etc. As previously announced, it will also include head-count reduction,” Ericsson had added.

    The Stockholm-headquartered company in December last year said it was aiming to slash costs by $880 million by the end of 2023.

    Last month, Ericsson missed expectations for its fourth-quarter earnings.

    The company joins a growing list of tech firms which have laid off thousands of employees in the recent months.

    It had warned of reduced spending from customers in the US and other developed markets.

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    ( With inputs from www.siasat.com )

  • US NSF signs $50 mn pact with Ericsson, IBM, Intel, Samsung for chip design

    US NSF signs $50 mn pact with Ericsson, IBM, Intel, Samsung for chip design

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    San Francisco: The US National Science Foundation (NSF) has announced that it has signed a $50 million pact with Ericsson, IBM, Intel and Samsung to support the design of the next-generation semiconductors.

    This partnership is a part of NSF’s ‘Future of Semiconductors’ (FuSe) initiative, NSF said in a blogpost.

    Through this partnership activity, NSF will collaborate with Ericsson, IBM, Intel and Samsung to fund projects that “cultivate a broad coalition of science and engineering researchers to pursue holistic, co-design approaches.”

    “Future semiconductors and microelectronics will require transdisciplinary research spanning materials, devices, and systems, as well as the engagement of the full spectrum of talent in the academic and industrial sectors,” said Sethuraman Panchanathan, NSF director.

    “Partnerships such as this are essential to inform research needs, spur innovation, accelerate the translation of results to the market, and prepare the future workforce,” Panchanathan added.

    By supporting researchers who are integrating materials, devices, architectures, systems, and applications, the new technology is designed and developed in an integrated way.

    “Co-design approaches simultaneously consider the device/system performance, manufacturability, recyclability and impact on the environment,” NSF mentioned.

    A nationwide shortage in semiconductors, complicated by the global pandemic, has made it challenging for the chip industry to meet the rising demand for chip-based products.

    While that demand is high in the US, only around 10 per cent of the global supply of chips is produced nationally.

    “Investments through this public-private partnership will help address this problem by spurring research and innovation leading to breakthroughs in semiconductor and microelectronics technologies, aiding the myriad applications that rely upon these devices,” NSF said.

    “This partnership expands upon recent NSF investments to train and build a diverse semiconductor manufacturing workforce in the US,” it added.

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    ( With inputs from www.siasat.com )