Biggest telecom industry layoffs: Ericsson to cut 8500 jobs worldwide, CEO memo to staff

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Ericsson is planning to lay off 8,500 employees globally in order to reduce costs. This will be the largest layoffs to hit the telecom industry this year so far. The company is seeking cost reductions at a run-rate of 9 billion Swedish kronor, or about $860 million, by the end of 2023.

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