Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Telecom equipment maker Ericsson (NASDAQ:ERIC) proposed to fire 8,500 employees globally to cut costs.
- "The way headcount reductions will be managed will differ depending on local country practice," Reuters reports citing CEO Borje Ekholm's internal memo.
- On Monday, Ericsson shared plans to cut about 1,400 jobs in Sweden.
- Also Read: Ericsson's Q4 Profit Takes Hit Due To Cloud Strategy Adjustments; Goes Cautious On Q1 Amid Macro Headwinds
- The analysts expected North America to be the most affected and growing market, like India the least.
- In December, Ericsson shared plans to cut costs by 9 billion crowns ($880 million) by 2023 as demand slowed in some markets, including North America.
- Ericsson CFO Carl Mellander had told Reuters that cost cuts would involve reducing consultants, real estate, and employee headcount.
- Technology companies, including Microsoft Corp (NASDAQ: MSFT), Meta Platforms Inc (NASDAQ: META), and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), laid off thousands of employees citing economic conditions.
- Many telecom companies had beefed up their inventories during the height of the pandemic, which led to slowing orders for telecom equipment makers.
- Price Action: ERIC shares traded lower by 1.07% at $5.53 premarket on the last check Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!