Swedish telecommunications company Ericsson has announced its plan to cut 8,500 jobs, which is equivalent to 8% of its global workforce, as part of its cost-cutting initiative. The job cuts will take place over the next two years, and the company aims to save approximately $857 million by the end of 2023.
Although Ericsson did not specify which regions would be affected the most, it employs over 105,000 people globally, including in North America. The company said it plans to manage the headcount reduction process fairly, respectfully, and professionally in line with local labor legislation.
