Member access

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


SummaryChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector 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

React to this article
Latest news on ERICSSON
1d ago ERICSSON : Telefonica and Ericsson connect the Peruvian Amazon with 4G/LTE
2d ago ERICSSON : Ethio Telecom, Ericsson Sign Agreement to Improve Network in Ethiopia
3d ago ERICSSON : Xiaomi's India ban worries Gionee
3d ago QUALCOMM : Delhi hc allows xiaomi to sell, import qualcomm-based handsets till j..
3d agoDJEricsson Signs 3-Year Deal With Axiata to Provide Microwave and Radio Service..
4d ago ERICSSON : partners with Econet Wireless Zimbawe
4d ago ERICSSON : Ethiopia Says Ericsson to Take Part of Telecom Deal After ZTE Row
5d ago ERICSSON : ICT maturity determines the smart cities of 2014
5d ago ERICSSON : Entel and Ericsson complete Latin America's first live test of APT700..
5d agoDJIndia Court Temporarily Allows Xiaomi Imports
Duration : Period :
Ericsson Technical Analysis Chart | ERICb | SE0000108656 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes