08 Jun, 2020, 10.44 PM IST. Read more about Indian IT firms unlikely to lay off employees amid coronavirus lockdown on Business Standard. Ericsson said in July it would accelerate measures to meet a target of doubling its 2016 underlying operating margin of 6 percent and that it aimed … Layoffs A report by Swedish daily Svenska Dagbladet stated Ericsson could lay off 25,000 of its employees outside of Sweden, as part of a cost savings program announced in July. Analysts in a Refinitiv poll had forecast 6.9 billion crowns.It recently bought the antenna and filter business of Germany’s Kathrein to boost its 5G portfolio and said costs and investments related to the deal would weigh on margins in 2020.Ericsson, which has targeted market share in China, said it was still too early to assess possible volumes and price levels for deploying 5G there.Western Europe is expected to lag behind, but by 2025 the GSMA telecoms industry lobby group estimates operators globally will have spent $1 trillion building up 5G networks, offering a huge jackpot for the leading suppliers.However, Ericsson CEO Borje Ekholm said the Swedish firm was on track to deliver its 2020 targets of an adjusted operating margin of over 10% and sales of 230-240 billion Swedish crowns.While the United States is an early 5G adopter, China is expected to start its roll out this year.Ericsson is fighting Nokia and Huawei to take the lead in the roll out of 5G networks, which are expected to host critical functions from driverless vehicles to smart electric grids and military communications.“We expect that the initial challenging margins will shift to positive margins over the lifespan of the contracts,” it said.Britain is expected soon to make a final decision on whether to allow Huawei equipment in its 5G mobile networks, while Germany may also rule on the matter during the spring.“We are convinced that Borje Ekholm will surpass the targets and show the doubters that they are wrong”, Gardell told Reuters.Increased investments in digitalization and more spending on compliance - after a $1 billion payment to resolve probes by U.S. authorities into corruption - are also expected to mean somewhat higher operating costs in 2020. Read employee reviews and ratings on Glassdoor to decide if Ericsson … Updated: April 17, 2020, 10:34 IST The 40-day lockdown has been a boon for the telecom industry as work from home concept has surged the overall traffic for Indian telecom service providers. STOCKHOLM (Reuters) - Mobile telecom gear maker Ericsson may lay off around 25,000 employees outside Sweden as part of its savings program, Swedish daily Svenska Dagbladet reported on Thursday, citing unidentified sources at the company.The company faces mounting competition from China’s Huawei and Finland’s Nokia as well as weak emerging markets and falling spending by telecoms operators with demand for next-generation 5G technology still years away.Ericsson has around 109,000 employees.Reporting by Olof Swahnberg; Editing by Dale Hudson“Ericsson has not communicated which specific units or countries could be affected. Metro by T-Mobile has apparently been hit with a round of layoffs. It is too early to talk about specific measures or exclude any country,” Ericsson said in a statement on its website.Ericsson said in July it would accelerate measures to meet a target of doubling its 2016 underlying operating margin of 6 percent and that it aimed to reach an annual cost reduction run rate of at least 10 billion crowns ($1.2 billion) by mid-2018.Ericsson has said actions will be taken primarily in service delivery and common costs while research and development would be largely unaffected.Svenska Dagbladet said it was not clear whether the planned layoffs included employees within its media operations, which are up for strategic review and seen by analysts as likely to be sold by the group. Ericsson has also opted to take on major new clients to gain market share, betting a hit on margins in the short term will help to deliver longer-term profitability.That has led the United States to blacklist Huawei and launch a worldwide campaign to try to persuade allies to ban it from their 5G networks, alleging its equipment could be used by Beijing for spying - which Huawei denies.Ericsson’s adjusted fourth-quarter operating earnings rose to 5.7 billion crowns ($600.2 million) from 2.6 billion a year earlier, but were down from 7.4 billion the previous quarter.
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