US Stock Movement | Ericsson rises about 2% pre-market, expects to cut 5,000 more jobs by 2026 to reduce costs

Gelonghui, February 27th | The Swedish telecommunications equipment manufacturer saw its shares rise about 2% in pre-market trading. According to reports, the CEO of the exchange, Börje Ekholm, recently stated that further layoffs are expected. He mentioned that the exchange plans to lay off about 5,000 employees globally in 2025 and will continue to cut costs at the same pace in 2026. Oil analysts pointed out that layoffs serve as a "painkiller" for the exchange financially—optimizing costs, supporting profits, and boosting the stock price in the short term; but it is also a "fever reducer" at the industry level—reminding the market that the telecommunications equipment industry is undergoing a difficult adjustment period.