Telecom gear maker Ericsson will lay off 8,500 staff globally as a part of its plan to chop prices, a memo despatched to staff and seen by Reuters stated.
On Monday, the corporate introduced plans to chop about 1,400 jobs in Sweden.
While expertise corporations have been laying of 1000’s of staff citing financial circumstances, this could be the most important layoff hitting the telecoms trade.
“The way headcount reductions will be managed will differ depending on local country practice,” Chief Executive Borje Ekholm wrote within the memo.
“In several countries the headcount reductions have already been communicated this week,” he stated.
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Source: economictimes.indiatimes.com