Member access

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


SummaryChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll news 

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

03/27/2013 | 03:38am US/Eastern
    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.


-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; Twitter: @DowJonesNordics

Recommend :
React to this article
Latest news on ERICSSON
3h ago G2MI RESEARCH : Telecom equipment & Solutions industry growth buoyed by strong d..
1d ago ERICSSON : Customer centric
1d ago ERICSSON : announces intention to acquire GEOSS consulting firm
2d agoDJPhone Database Transfer Draws Lawmakers' Scrutiny
2d agoDJPhone Database Transfer Draws Lawmakers' Scrutiny
2d ago ERICSSON : Romania to employ 500 new workers, raising number of employees to 3,3..
4d ago ERICSSON : promotes networking society
4d ago ERICSSON : Evdo Assigned Patent
4d ago ERICSSON : Mobile Broadband Operators Scramble for VoLTE, Creating an IMS Land R..
5d ago ERICSSON : Sweden keen to offer expertise for smart cities in state
Duration : Period :
Ericsson Technical Analysis Chart | ERICb | SE0000108656 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes