Telecommunications equipment maker Ericsson will lay off 8,500 employees worldwide as part of its cost-cutting plan, according to a memo sent to employees and seen by Reuters.
In a statement, Boje Ekholm, CEO of the Swedish company, explained that the way the reduction in staff will be managed will differ depending on the local practice of a particular country. Ericsson’s move will be the biggest layoffs in the global telecommunications industry since major technology companies announced massive job cuts a few months ago.
Europe’s largest chemical maker, the German company BASF, plans to cut 2,600 jobs and cut production in Germany as it adjusts to a future without cheap Russian gas. The company is closing a number of energy-intensive plants, including two ammonia plants and associated fertilizer plants. This has already led to the loss of 700 jobs at its main plant in Ludwigshafen in Germany.
