Finance
Ericsson lays off about 100 Canada-based employees to cut costs, Globe and Mail reports
Published by Global Banking and Finance Review
Posted on September 9, 2025
Editorial & Advertiser disclosure
Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
(Reuters) -Swedish telecom equipment maker Ericsson has laid off about 100 Canada-based technical employees, citing a need to streamline costs and a broader strategy to consolidate its global workforce, the Globe and Mail reported on Monday.
The employees were told Monday morning they would be given severance packages and job transition support, with their final work day being October 31, the report said, citing sources.
Reuters could not immediately verify the report and Ericsson did not immediately respond to a request for comment.
Ericsson spokesperson Nathan Gibson told the Globe and Mail that the company's job cuts in Canada will bring together the its network management services team in the country with the company's global operations, leveraging common tools, processes and scale.
The Stockholm-based company in its second-quarter results said its restructuring charges for 2025 are expected to remain at elevated levels.
Its quarterly operating profit, excluding restructuring charges, was 7.0 billion crowns ($748.70 million) against a year-earlier loss of 11.9 billion and a mean forecast of 6.1 billion in an LSEG poll of analysts.
($1 = 9.3496 Swedish crowns)
(Reporting by Harshita Meenaktshi in Bengaluru; Editing by Alan Barona)