Memo: Ericsson plans to lay off 8,500 of its 105K+ employees, or 8% of its staff; in December, the company said it would cut costs by ~$880M by the end of 2023 (Supantha Mukherjee/Reuters)

Supantha Mukherjee / Reuters:

Memo: Ericsson plans to lay off 8,500 of its 105K+ employees, or 8% of its staff; in December, the company said it would cut costs by ~$880M by the end of 2023  —  Telecom equipment maker Ericsson (ERICb.ST) will lay off 8,500 employees globally as part of its plan to cut costs, a memo sent to employees and seen by Reuters said.