The wave of layoffs affecting tech extends to telecoms. Ericsson is preparing to lay off 8,500 employees, according to a memo sent to employees and seen by Reuters. Earlier this week, the Swedish company had already announced the dismissal of 1,400 people in Sweden.
This bleeding in the workforce of the Scandinavian company, one of the world’s three leading telecom equipment manufacturers with Huawei and Nokia, is part of a cost reduction plan aimed at adapting to a more economic environment. difficult. Last December, Ericsson said it wanted to cut costs by $880 million by the end of 2023.
The Swedish equipment manufacturer is facing a slowdown in demand in several markets, particularly in North America, where many employees are expected to be laid off, according to analysts. To date, Ericsson employs more than 105,000 people worldwide.