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Tuesday, March 28, 2023
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Ericsson and BASF announce the reduction of thousands of KXan 36 Daily News jobs

Date: March 28, 2023 Time: 07:51:20

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.

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.

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