<p>Telecom equipment maker Ericsson will lay off 8,500 employees globally as part of its plan to cut costs, a memo sent to employees and seen by Reuters said.</p>.<p>On Monday, the company announced plans to cut about 1,400 jobs in Sweden.</p>.<p>While technology companies have been laying of thousands of employees citing economic conditions, this would be the largest layoff hitting the telecoms industry.</p>.<p>"The way headcount reductions will be managed will differ depending on local country practice," Chief Executive Borje Ekholm wrote in the memo.</p>.<p>"In several countries the headcount reductions have already been communicated this week," he said. </p>
<p>Telecom equipment maker Ericsson will lay off 8,500 employees globally as part of its plan to cut costs, a memo sent to employees and seen by Reuters said.</p>.<p>On Monday, the company announced plans to cut about 1,400 jobs in Sweden.</p>.<p>While technology companies have been laying of thousands of employees citing economic conditions, this would be the largest layoff hitting the telecoms industry.</p>.<p>"The way headcount reductions will be managed will differ depending on local country practice," Chief Executive Borje Ekholm wrote in the memo.</p>.<p>"In several countries the headcount reductions have already been communicated this week," he said. </p>