Ericsson will remove 8500 employees, this will be the effect in India

Ericsson had announced in December that it was planning to reduce its expenses by Rs 7,300 crore.

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 The company is going to lay off 8500 employees. Announcement to reduce 1400 employees in Sweden Out of the workforce of 1,05,000 employees will be retrenched

Telecom equipment maker Ericsson has announced major layoffs. The company has announced to reduce 8500 employees from the workforce. In this regard, the matter of giving information to the employees has also come to the fore. Regarding the reason behind the retrenchment of the employees, the motive of the company has been stated as cost cutting. Telecom equipment maker Ericsson's name has also been included in the list of companies moving towards layoffs in 2023. According to Reuters report, the company is going to lay off 8500 employees. The company's Chief Executive Officer, Bjorge Ekhom, has told through a memo that the employees will be reduced according to the situation of the company operating in that country. In many countries, within this week itself, the process of downsizing has been started. Last Monday, the company announced the reduction of 1,400 employees in Sweden out of its workforce of 1,05,000 employees. Although the company has not yet clarified in which area the maximum layoffs will be done. At the same time, analysts believe that the firm may make the most layoffs in North America. At the same time, in emerging markets like India, its effect can be seen to the minimum. It was announced in December by Ericsson that it is planning on a plan to reduce its expenses by Rs 7300 crore. This cost cutting company will continue till the end of 2023 as the demand is decreasing at the global level. The direct reason for this is being linked to the epidemic. During the pandemic, where the demand for telecom equipment skyrocketed, now the demand is continuously decreasing. That's why companies are turning to layoffs. Earlier, Ericsson's chief financial officer Karl Melander told Reuters that the cost-cutting process would involve reducing the number of consultants, real estate and employee head count. Earlier, Microsoft, Meta and Alphabet, Google have also reduced thousands of employees from the workforce.