(NEWSnet) — Another week, another round of layoffs.

Swedish telecom company Ericsson announced Friday it would cut 8,500 jobs. The company employees more than 105,000 workers globally.

The move comes as part of what the firm calls an “acceleration of cost cutting measures.” 

In the consulting industry, both McKinsey and Ernst & Young have made cuts this week.

The New York based McKinsey, known for helping other companies develop layoff strategies, made its biggest headcount reduction in its 97 year history by slashing 2,000 people from its workforce this week.

Ernest & Young was reported by Linkedin News, which sourced several talent acquisition members who lost their jobs. It is not clear how many people have been affected.

Linkedin itself also had layoffs this week. On Tuesday, the outlet Mercury News reported that the Bay Area-based social media company cut 91 staffers from its workforce. The cuts mostly impacted its recruiting and talent acquisition teams.

According to reporting from the Washington Post, Meta, Facebook’s parent company, is preparing for yet another round of layoffs. This could impact thousands across the Silicon Valley based social media giant.

The move comes only months after the company cut a staggering 11,000 people from its global workforce.

The financial woes come as CEO Mark Zuckerberg remains one of the richest people in the world. According to Bloomberg’s Billionaire Index, he’s at number 18 and is worth about $64 billion.

National Public Radio announced cuts 10% of its workforce this week, which is the biggest reduction ever.

According to NPR’s own reporting, the cuts will impact all divisions of the company. It is not yet clear who will be affected.

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