Ex-Ericsson engineer here, I was at the company for 13 years. Regarding the size - lot of people don't realize because it hasn't been a front-facing company since the collapse of its phones business, but it really is invested in tech right across the board - from developing its own real-time operating systems to its own massive-core chipsets used in base stations, to its own ML platforms. Just the research arm of Ericsson is huge in itself, I think they have around 60 000 patents granted, and are doing everything from fundamental RF research, to quantum machine learning. Not to mention a huge managed services business that helps telecom operators run their networks.

Regarding the lay-offs - telecom industry is essentially a sinewave. The "good" period (e.g. from 5G prototype to complete network migration to 5G) lasts approximately 5 years. The way contracts are signed means that you sell X number of network nodes (base stations, core nodes, etc) and some kind of support contract to go with it. After that, there is nothing. Very different from public cloud providers where you pay as you go. Ericsson and most telecom vendors still haven't figured out how to monetize this.

They make the software that runs mobile networks and part of the hardware (as in radio towers, even chips in the past), various special purpose hardware used in the past is also still in use. They also operate these networks as a service to telecom providers. The goods and services they provide are spread pretty wide.

And Ericsson market cap is $20B while Qualcomm market cap is $138B. And Nokia is $26B.

Does manufacturing account for a large portion of those 100k+ employees? Ericsson is not a fabless semiconductor firm, after all. They need to produce things like enclosures and PCB's (perhaps that is done by 3rd parties).

Yeah that surprised me as well. It would be interesting to get a ‘tech company ordered by headcount’ list but it would make me nervous the listing would result in some executive deciding they should layoff more people.

I was honestly surprised to learn they were still in business.

I didnt expect that Ericsson even had 8500 employees to lay off. Kind of disappeared from the radar after the mobile phone era. (Yes i know they still make equipment)