Telecom gear provider Parallel Wireless has laid off at least 500 employees in India, Israel, the UK and the US.
Parallel Wireless is one of the leading vendors in the open Radio Access Network (RAN) industry and last had at least 860 employees across the world.
Indian technology consultant RIU Global Services posted on LinkedIn Parallel Wireless announced the layoff of 500 employees.
"While this is disappointing news for these 500, others still sitting snug should realise they could be next. In such times, no one's job is secure in the world's true sense," said RIU Global Services.
"We at RIU Global would like to offer our support, whether it is in terms of investment, resources, platform, or infrastructure to any such individual who would like to start something of their own in this space," the company posted.
Steve Papa, CEO and founder of Parallel Wireless in the US, told the media that "we are making adjustments to prudently right-size given the realities of global economic conditions."
"Covid supply chain constrained world, and the pace of adoption of OpenRAN," he mentioned in his statement.
The layoffs have hit employees at all levels of the company.
Eugina Jordan, former executive VP of marketing, said that "my heart goes out to all my colleagues across the globe that have been impacted by a mass layoff at Parallel Wireless, including yes, myself. I was one of the affected as well."
"Our amazing team has changed the industry for the better and has helped many global customers reimagine their networks," Jordan added.
Israel-based technology systems architect Benny Assouline wrote: "I am looking for a new role and would appreciate your support. Thank you in advance for any connections, advice, or opportunities you can offer."
Many of those affected have joined a Parallel Wireless alumni group on the platform.