Ericsson to lay off 8,500 workers worldwide because it turns into newest tech agency to slash its headcount
Ericsson will lay off 8,500 workers worldwide because it turns into the newest tech agency to slash its headcount.
The Swedish enterprise stated many of the cuts will happen within the subsequent few months.
The cull, representing about 8 per cent of workers, follows strikes by the likes of Amazon, Microsoft and Google, which have all made substantial job cuts in latest months.
Cull: The Swedish enterprise stated many of the cuts will happen within the subsequent few months
Ericsson is without doubt one of the largest service suppliers to the UK’s 4G and 5G networks and has laid out plans to reduce £720m in prices by the top of 2023. Last month, it reported lower-than-expected fourth-quarter earnings.
Chief govt Borje Ekholm stated: ‘We see a possible to simplify and develop into extra environment friendly all through the corporate, particularly when it comes to structural prices.’
Ericsson has about 1,400 workers within the UK, in accordance to latest filings, that means greater than 100 might lose their jobs.
Data tracker website Layoffs.fyi estimates that 110,000 tech workers have been laid off to date this yr globally, including to the 161,061 sacked in 2022.