Telecom company Ericsson to lay off 8,500 workers

The Hill ^ | 02/24/2023 | RASHAD SIMMONS

[ChicagoConservative27]

Telecom equipment maker Ericsson plans to lay off 8,500 of its employees globally to cut costs, according to a memo sent to employees from the company’s CEO Börje Ekholm.

“The way headcount reductions will be managed will differ depending on local country practice,” Ekholm wrote.

According to Reuters, the layoffs are predicted to affect North America and would be the largest to hit the telecom industry. The company announced Monday that about 1,400 jobs in Sweden will be slashed as well.

“In several countries, the headcount reductions have already been communicated this week,” he said.

Ericsson is the latest telecom company to lay off workers in an industry that increased its inventory during the height of the pandemic.

[ChicagoConservative27]

But pudding man keeps saying the economy is on fire. What gives? (S)

[packagingguy]

Their phones used to be the cat’s meow. They didn’t keep up with the times.