Telecom equipment maker Ericsson said Friday it would slash 8,500 jobs worldwide, part of a cost-cutting program as financial headwinds push operators to rein in spending.
Ericsson, which had a total of 105,000 employees at the end of 2022, last month posted disappointing full-year 2022 earnings, as operators slow spending on rolling out the latest 5G networks due to the global economic slowdown and rising inflation.
