Ericsson AB plans to lay off 8,500 employees worldwide, or about 8% of its workforce, the Swedish company said Friday, while it cuts costs as orders for its 5G gear have slowed in the U.S. and other markets.
The Stockholm-based company, which sells telecommunications equipment, said layoffs would happen this year and next year. The announcement came days after the company said it planned to cut around 1,400 jobs in Sweden.
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