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Swedish telecommunications company Ericsson is set to lay off 8,500 employees in a cost-cutting effort and according to the reports, most of the layoffs would be done in the first half of 2023 and as early as the rest of 2024.

Swedish company Ericsson to lay off 8,500 workers globally; to be implemented in first half of 2023

Swedish telecom giant Ericsson to go on cost-cutting with layoff of 8,500 employees

Ericsson plans to fire nearly 1,400 employees

Part of a broader plan to reduce costs globally, Swedish Telecom gear makers - Ericsson plans to get about 1,400 jobs in Sweden alone. The move is a part of companies' earlier announced plan to get cost by $880 million by the end of this year.

Major global tech firms going for job cuts: Ericsson to cut 1,400 jobs

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Chinese equipment provider Huawei has proposed to sign an agreement, including "no back door", with the Indian government to allay any security concerns it may have regarding its network equipment. The company is facing heat in the Indian market following the ban of Huawei in the US market, which has been followed by Australia and Japan. However, some countries are yet to take a decision.

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Ericsson aims to reach an annual cost reduction run rate of at least $1.2 billion by mid-2018

Ericsson could dismiss 25,000 employees in cost-cutting drive

Ericsson feels the pinch of weakening currencies and low oil prices, cost reduction plan could affect more jobs

Stagnating sales forces Ericsson to cut costs further

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