Following Ericsson's plans to cut 1,400 jobs in its home market of Sweden, it's been confirmed that the company is slashing 8,500 jobs globally.

A memo has been sent to its employees, notifying the workforce of the vendor's cost-cutting measures.

Ericsson's Headquarters in New Jersey, US
– Ericsson

It is thought that the number represents around eight percent of the vendor's total headcount.

"The way headcount reductions will be managed will differ depending on local country practice," said Ericsson chief executive Borje Ekholm in the memo, noted Reuters, which first reported the job cuts.

It's not known which geographical locations will be most impacted, but Ericsson confirmed it will 'manage the process in every country with fairness respect, professionalism, and in line with local labor legislation,' while employees will be the first to be notified.

Ericsson reiterated its decision to cut jobs is part of plans to save 9 billion crowns ($800 million) by the end of the year, as demand in some of its markets slow.

Last year, Ericsson departed the Russian market following the fallout from Russia's invasion of Ukraine, with 400 people in the country losing their jobs.

It proved to be a challenging year for Ericsson, which became embroiled in a scandal after it was revealed that Ericsson may have paid ISIS both for access through territory controlled by the terror group, and to continue doing business in the region.

The vendor also sold its loss-making IoT division to California-based Aeris, with the company noting at the time that the sale would reduce quarterly losses by $24 million.

A whole host of tech companies have recently announced significant job cuts, including Meta, Google, Microsoft, Cisco, and T-Mobile.

Rival telecoms equipment vendor Nokia said back in 2021 that it will slash 10,000 jobs over the next two years.

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