EconomyTechnology
24 February 2023, 7:53 pm 1 minute
| Reuters was first to report that Ericsson will lay off 8,500 employees, citing a memo sent to employees and confirmed by Ericsson. This layoff demonstrates that the recent job cuts within the tech industry are moving to other sectors, with this being the first major layoff by a telecom company. |
Market Impact
Ericsson’s move would be the largest layoff to hit the telecoms industry. While Ericsson did not disclose which geography would be most affected, analysts had predicted that North America would likely be most affected and growing markets such as India the least.
Article Tags
Topics of Interest: EconomyTechnology
Type: Reuters Best
Sectors: Economy & PolicyTechnologyTelecommunications
Regions: Europe
Countries: Sweden
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story