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Ericsson to Cut 8% of Workforce as Telecoms Market Cools

  • Reductions are part of 9 billion-krona cost-cutting plan
  • Cost-cut target was announced by Ericsson in December
Updated on

Ericsson AB, one of the world’s biggest providers of 5G networking equipment, plans to cut 8,500 staff worldwide to reduce expenses after the market for its telecommunications gear stopped growing.

The bulk of the cuts at the Swedish maker of mobile networks will take place during the first half of the year, although some will be in 2024, the company said in an emailed response to questions on Friday.