Ericsson to lay off 8,500 workers as part of cost-cutting plan
Publishing timestamp: 2023-02-24 12:13:41
Summary
Ericsson, a Swedish telecom company, has announced that it will lay off 8500 workers as part of its cost-cutting measures. This will affect roughly 8% of its staff of 105529 worldwide. The layoffs will take effect in the first half of 2023 and could extend into 2024. Ericsson is seeking cost reductions of 9 billion Swedish kronor by the end of 2023.
Sentiment: NEGATIVE
Keywords: business news, telefonaktiebolaget lm ericsson, technology, breaking news: politics, politics, breaking news: technology, social media, lm ericsson telefon,
Source: https://www.cnbc.com/2023/02/24/ericsson-layoffs-8500-employees-to-be-cut-from-workforce.html