8 Dec 2009 Ericsson to cut 946 jobs

[Watchman]

Ericsson to cut 946 jobs
Dec 8, 2009

Swedish telecom giant Ericsson said on Tuesday it would cut 946 jobs in Sweden in an effort to downsize its production staff as it strives to improve efficiency. -- PHOTO: AFP

STOCKHOLM - SWEDISH telecom giant Ericsson said on Tuesday it would cut 946 jobs in Sweden in an effort to downsize its production staff as it strives to improve efficiency.

The lay-offs come less than two months after the company reported worse-than-expected third quarter results, with a 74-per cent fall in net profit blamed on falling sales and problems at its Sony Ericsson venture.

'We must reduce our production staff because the labour requirement for our products is diminishing as we increase efficiency,' Ericsson chief executive Carl-Henric Svanberg said in a statement, adding 'it's a hard day for us today.'

The company would completely wind down its production at its Gaevle site, axing 856 jobs, and cut 90 jobs out of 1,037 at its Boraas plant. -- AFP

 

[Alamaking]

Got cut local Ericsson staffs? i hope they do cox they damn cheapo shits :p:p

 

[Equalisation]

Not to worry. There are many jobs awiting at Keppel and Jurong shipyard. One can earn S$35k per year.

Originally Posted by ossy77 :

I can give a brief breakdown since I am in the marine industry for about 10 years.

A worker annual salary to hit 35k is not a surprise.

Apprentice
basic salary $1000.
$1000/22/8.8 = $5.2 per hour
Assuming an average of 60 hours of overtime at 1.5 times rate and 20 hours at double rate per month.
(60*1.5+20*2)*$5.2=$676 per month.
Assuming a mean bonus across Sembawang, ST Marine, Jurong and Keppel at 6 months bonus.

($1000+$676)*12+$1000*6= $26112 annually for an apprentice.

Some old bird having 10 to 15 years of experience still having the grade as a charge hand, their basic salary are capped at $1800 and they are eligible for Overtime incentives and their annual pay will be as below.

$1800/22/8.8 = $9.3 per hour
Assuming an average of 60 hours of overtime at 1.5 times rate and 20 hours at double rate per month.
(60*1.5+20*2)*$9.3=$1116 per month.

($1800+$1116)*12+$1800*6 = $45792

As for a newly graduated engineer, starting salary at $2600 and the starting salary will vary with different class of honors.