Ericsson plans to cut costs by $1.21 billion by 2017 and will slash jobs as part of that effort, though the vendor did not say how many positions it will cut. The cost cuts are part of Ericsson's larger strategic transformation toward software, media and working with customers that are not telecommunications carriers.
Sprint disclosed it is going to book another $105 million charge related to its latest round of job cuts, according to a securities filing. That comes on top of the $160 million charge it had already recorded.
As part of its ongoing cost-cutting efforts, Sprint announced it has eliminated 452 jobs from its Overland Park, Kan., headquarters. This comes on top of approximately 5,000 jobs the company slashed between Jan. 1 to Sept. 30 of this year. And according to a report from the Kansas City Star, more job cuts are anticipated as part of the company's restructuring efforts.
Telefónica Deutschland announced today that it intends to cut its workforce by around 1,600 full-time positions by 2018 as a result of the Germany-based company's recent merger with E-Plus.
Some companies in the mobile industry that shed thousands of jobs in recent years are now on the mend. Despite those improvements, continued shifts in the mobile market have forced thousands of workers out of their jobs this year.
Last week the U.S. economy marked a major milestone: The official unemployment rate dipped to 5.9 percent, the first time it has been below 6 percent since the summer of 2008. Indeed, some companies in the wireless industry that shed thousands of jobs in recent years are now on the mend. But, despite those improvements, continued shifts in the mobile market have forced thousands of workers out of their jobs this year. Here is a list of the biggest job cuts so far this year:
Sprint indicated it is cutting more jobs as it seeks to slim down and become more efficient amid intensifying competition. Sprint did not say how many jobs it is planning to cut, but the cuts come on top of at least 1,400 the company made earlier this year.
Microsoft slashed 2,100 employees from its work force, part of a previously announced plan to cut 18,000 workers as the software giant integrates former Nokia employees and shifts its focus to the cloud, mobile and productivity tools. As a result of this round of cuts, Microsoft will also close its Silicon Valley research-and-development lab.
Sprint CEO Marcelo Claure said the company plans on introducing new, aggressively priced plans next week, according to a Light Reading report. The new Sprint chief addressed a town hall meeting of Sprint employees Thursday and reportedly told them that the company will slash prices and continue focusing on improving its network to win back customers.
Cisco said it will cut 6,000 jobs, or 8 percent of its workforce, as it forecasted tepid growth going forward. However, CEO John Chambers said he thinks the shift in the network infrastructure market to software-defined networking will benefit the vendor.