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

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