Ericsson, the telecom equipment maker is set to lay off 8,500 of its employees globally as part of its plan to cut costs.
This was contained in a memo sent to employees, informing them of the imminent job loss.
This is coming after the company announced on Monday plans to cut about 1,400 jobs at their Swedish office.
“The way headcount reductions will be managed will differ depending on local country practice,” Chief Executive Borje Ekholm wrote in the memo.
“In several countries the headcount reductions have already been communicated this week,”
Ericsson is the latest company to be hit with a lay-off wave affecting tech companies.
This job cut by the teleco would be the largest layoff hitting the telecoms industry.