Telecoms company, Ericsson plans to lay off 8,500 workers in order to cut costs. According to reports, the Swedish manufacturer of 5G networks informed employees of the measures in an internal company memo last week.
The move follows the company’s announcement last year of a plan to cut costs by more than £700 million by the end of 2023.
According to Ericsson, the majority of the cuts will take place in the first half of 2023, with additional cuts coming in 2024.
Ericsson employs 105,500 people worldwide, implying an 8% reduction in employment. The firm has 23 offices in Africa, primarily in Ethiopia, South Africa, Egypt, and Nigeria.
Ericsson achieved a milestone in September 2022 with the successful launch of 5G services in Africa. The first phase of the launch covered specific areas in Lagos and Nigeria where Ericsson’s 5G technology aims to accelerate the development and digitalization of key sectors.