Ericsson Cut 900 Jobs in Romania, 25% of Workforce, in 2023

The two Romanian subsidiaries of the Swedish telecommunications giant Ericsson gave up a combined 892 employees in 2023, while one of the companies had a record profit, and the second went into losses, according to the accounting balance sheets submitted to the Ministry of Finance.

The business of Ericsson Telecommunications Romania decreased by 8%, to 885.7 million lei, while the profit rose by 4%, to 33.45 million lei, the highest so far. Staff has been reduced by 584 employees, or 23% of the workforce, to 2,019 people from 2,603 in 2022. This is the lowest number since 2013, when it had 1,726 employees, and the highest number was reached in 2016, when the team numbered 2,840 people.

The business of Ericsson Antenna Technology Romania decreased by 32%, to 384.72 million lei. At the same time, the company went into losses, with a minus of 4.72 million lei, from a profit of 14.93 million lei in 2022. The company shed 308 employees, from 1,211 in 2022 to 903 employees, a decrease of 26%. Most employees were registered in the first year of activity, in 2019.

Ericsson Antenna Technology Romania is based in Timișoara and produces the newest antennas from the Swedish group’s portfolio, mainly used for 4G and 5G technologies, which are delivered to almost all major telecommunications operators at an important level. This is the former telecommunications antenna factory taken over in 2019 from the Germans of Kathrein in a global transaction.

The post Ericsson Cut 900 Jobs in Romania, 25% of Workforce, in 2023 appeared first on The Romania Journal.