Ericsson just lately introduced it’s planning to chop 8,500 jobs as a part of its cost-cutting measures.
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The chief government of Swedish telecom firm Ericsson on Monday warned Europe’s trade construction is probably going unsustainable, calling for consolidation throughout the area to spice up competitiveness.
The feedback come shortly after the corporate, which is among the world’s greatest suppliers of 5G cell networks, introduced it’s planning to chop 8,500 jobs as a part of its cost-cutting measures.
“The big problem in Europe is really that our customers can simply not afford to build out the networks and I think that is going to hurt European competitiveness long term,” Ericsson CEO Börje Ekholm advised CNBC’s Karen Tso at Mobile World Congress in Barcelona, Spain.
Asked how the area can handle this situation, Ekholm replied, “You know my view on this, I do believe Europe needs to consolidate.”
Ekholm mentioned in nations such because the U.S., China and India, consolidation had meant there have been now simply two or three operators nationwide.
In Europe, nonetheless, “it is 200 operators, pretty much four plus in almost every country. It is an industry structure that is probably unsustainable and that needs to be addressed,” Ekholm mentioned.
Ericsson’s chief government mentioned it was nonetheless “very, very early” within the 5G journey however tipped India to construct one of many world’s strongest 5G networks within the subsequent few quarters.
Ekholm mentioned that India would additionally “probably start to drive innovation on top of the network well before many other countries.”
Source: www.cnbc.com”