Leading companies around the world continue to take up job layoff. Big companies like Google, Microsoft and Amazon have already sent thousands of people home. Now the list has been joined by telecom equipment maker Ericsson. The company has announced that it is laying off 8,500 employees across the globe. The company’s operations in India will also have an impact on its employees.
It is a matter of concern that even big companies around the world are laying off their employees in the name of fears of an economic slowdown. Companies like Google, Microsoft, Meta and Amazon have already laid off thousands of people. In 2023 alone, more than 100,000 tech workers lost their jobs. Now that list has been joined by the telecom equipment manufacturing company Ericsson (Ericsson Layoffs). Thousands of people have been announced to be laid off. The company said it was laying off a total of 8,500 of its employees around the world. The debate on the future of employees is continuing once again with the layoffs, a multinational company that manufactures Swedish telecom equipment.
Ericsson’s job layoffs have been carried out in the name of cost control, company representatives said. He said the company has issued memos to employees who are already losing their jobs as part of the layoffs. The company’s chief executive officer (CEO) Borge Ecolm said the number of people losing their jobs in layoffs varies from country to country. “We have already informed some countries about how many people are being laid off in which countries,” he said.
Telecom equipment maker Ericsson recently laid off 1,400 employees in Sweden as part of cost-cutting measures. The latest announcement seems to be an addition to the removals. Nearly 10,000 people, including the then layoffs, were apparently laid off by Ericsson. Ericsson also operates its operations in India. There are opinions that layoffs will also have an impact on employees working in India.
Ericsson currently employs over 1,05,000 employees across the globe. Ericsson, however, did not disclose which country’s employees are most affected by the latest layoffs. But analysts believe that countries in North America are likely to have a greater impact. These job cuts are likely to be lower in countries like India, which are on a growth trajectory. In December 2022, Ericsson had announced that it would cut costs by 9 billion crowns ($880 million) by the end of 2023. As part of this, more than 10,000 people have been sacked. There are chances of more cuts in the future as well.