Swedish telecom company Ericsson is set to lay off 8,500 workers in a cost-cutting measure.
The figure represents 9% of its total global workforce.
The company has around 105,529 employees globally.
- These layoffs will be implemented in 2023, but further cost-reducing measures could also be taken in 2024, depending on the company's projections.
- Ericcson claims that the layoffs will help the company save $860M.
- If implemented, this layoff round would be the largest in the telecom industry during the last few years.
