Member access

4-Traders Homepage  >  Shares  >  NASDAQ OMX NORDIC  >  Ericsson    ERICB   SE0000108656

ERICSSON (ERICB)

20
SummaryNewsCalendarCompanyFinancialsConsensusRevisions 

Ericsson : Confirms 1,399 Job Cuts, SEK1.5 Billion Costs To Hit 1Q13

03/27/2013 | 03:38am US/Eastern
Recommend:
0
    By Dominic Chopping 
 

STOCKHOLM--Swedish network equipment vendor Ericsson AB (ERIC) said Wednesday it has cut 1,399 jobs in Sweden as part of a previously announced restructuring, leading to costs of around SEK1.5 billion that will hit its first quarter results.

 
   MAIN FACTS: 

-On November 7, 2012, Ericsson informed its employees about a change in operations in Sweden, which also included reduction of positions covering all job areas.

-Ericsson in Sweden has reduced its operations by 1,399 positions by adapting the organization, in cooperation with the unions. This has resulted in 919 employees being given notice.

-The majority of the reductions are in Ericsson's Networks unit, but all parts of the organization in Sweden are to some extent affected, impacting all its Swedish sites except Falun, Hudiksvall, Kalmar and Katrineholm.

-The company originally expected to cut around 1,550 jobs.

-At 0819 GMT shares traded 0.7% higher at 81.85.

-Write to Dominic Chopping at dominic.chopping@dowjones.com; Twitter: @DowJonesNordics

Recommend :
0
React to this article
Latest news on ERICSSON
11h ago ERICSSON : NBN contracts Ericsson to deliver fixed wireless and satellite ground..
16h ago ERICSSON : to deliver fixed wireless and satellite ground services for Australia..
17h ago ERICSSON : ABI Research Offers Report: Pay TV Operator Software Spending Shrinks..
1d ago ERICSSON : acquires MetraTech to accelerate cloud and enterprise billing capabil..
2d ago HUAWEI TECHNOLOGY : Telecom Italia stages LTE-A trial in Turin
6d agoDJNokia Boosted by Sale of Handset Unit to Microsoft
6d ago Nokia raises networks outlook after second-quarter profit beats estimates
6d agoDJNokia Swings to Second-Quarter Profit
07/23 ERICSSON : "Systems and Methods for Distributed Authentication of Video Services..
07/23 ERICSSON : sole LTE provider for Claro Costa Rica
Advertisement
Dynamic quotes  
ON
| OFF