In 2026, 3 telecom companies have cut a combined 22,221 jobs, averaging 12.5% of workforce per company.
Telecom layoffs reflect weak 5G demand and ongoing cost restructuring. Ericsson's Swedish workforce cuts and Telefonica's multi-unit redundancy plan signal that the expected 5G revenue boom has not materialized as projected.
| Company | People Cut | % of Workforce | Date | Category |
|---|---|---|---|---|
| Nokia | 14,000 | 18.9% | RESTRUCTURE | |
| Telefonica | 6,000 | 6.0% | RESTRUCTURE | |
| Ericsson | 1,600 | 12.7% | WEAK DEMAND | |
| Verizon | 621 | 0.7% | AI-DRIVEN |