Swedish network and telecommunication hardware company Ericsson is reported to be announcing a workforce reduction of 8500 as a cost rationalisation process, making it the latest tech company to cut its labour.
The job cut constitutes approximately 8% of its global workforce of 105,529, which will take effect from 2023 to 2024. Ericsson did not mention the regions or countries that will be impacted by the cuts but said it will depend on the business of each unit.
“The way headcount reductions will be managed will differ depending on the local country practice,” an Ericsson spokesperson said in an email. “Our aim is to manage the process in every country with fairness, respect, professionalism and in line with local labour legislation.”
Ericcson provides 5G network for major telecommunication service providers including Malaysia’s Digital Nasional Berhad for the country’s 5G rollout.
