Ericsson layoffs, affecting 8% of staff

source: ustoday.com [{ "selector": ".rikgj-a", "duration": "250ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateX(calc(360px - 10px))", "opacity": "1"}, {"offset": 1, "transform": "translateX(0)", "opacity": "1"} ] }]

Telecom company Ericsson said Friday it plans to cut 8,500 jobs source: ustoday.com [{ "selector": ".rcesn-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(calc(360px - 10px))", "opacity": "1"}, {"offset": 1, "transform": "translateX(0)", "opacity": "1"} ] }]

or 8% of its workforce, worldwide in a bid to reduce costs source: ustoday.com [{ "selector": ".ldlap-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(calc(360px - 10px))", "opacity": "1"}, {"offset": 1, "transform": "translateX(0)", "opacity": "1"} ] }]

making it the latest tech company to announce mass layoffs source: ustoday.com [{ "selector": ".ngien-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(calc(360px - 10px))", "opacity": "1"}, {"offset": 1, "transform": "translateX(0)", "opacity": "1"} ] }]

The Swedish company, which provides equipment for 5G networks source: ustoday.com [{ "selector": ".lsgss-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(calc(360px - 10px))", "opacity": "1"}, {"offset": 1, "transform": "translateX(0)", "opacity": "1"} ] }]

said the layoffs would occur this year and next year source: ustoday.com [{ "selector": ".ibozx-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(calc(360px - 10px))", "opacity": "1"}, {"offset": 1, "transform": "translateX(0)", "opacity": "1"} ] }]

as part of its plan to cut costs by roughly $857 million by the end of 2023 source: ustoday.com [{ "selector": ".gmodd-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(calc(360px - 10px))", "opacity": "1"}, {"offset": 1, "transform": "translateX(0)", "opacity": "1"} ] }]

Ericsson didn't specify which regions would be most impacted sourc: ustoday.com [{ "selector": ".bewdi-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(calc(360px - 10px))", "opacity": "1"}, {"offset": 1, "transform": "translateX(0)", "opacity": "1"} ] }]

The company employs more than 105,000 people globally source: ustoday.com [{ "selector": ".fsaew-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(calc(360px - 10px))", "opacity": "1"}, {"offset": 1, "transform": "translateX(0)", "opacity": "1"} ] }]

The way headcount reductions will be managed will differ depending on local country practice source: ustoday.com [{ "selector": ".kpxcp-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(calc(360px - 6px))", "opacity": "1"}, {"offset": 1, "transform": "translateX(0)", "opacity": "1"} ] }]