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4-Traders Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Ericsson    ERIC B   SE0000108656

ERICSSON (ERIC B)
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Ericsson : Confirms 1,399 Job Cuts, SEK1.5 Billion Costs To Hit 1Q13

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03/27/2013 | 09:38am CEST
    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 [email protected]; Twitter: @DowJonesNordics

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Financials ( SEK)
Sales 2018 193 B
EBIT 2018 6 532 M
Net income 2018 -746 M
Finance 2018 12 946 M
Yield 2018 1,59%
P/E ratio 2018 -
P/E ratio 2019 35,37
EV / Sales 2018 1,10x
EV / Sales 2019 1,08x
Capitalization 226 B
Chart ERICSSON
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Ericsson Technical Analysis Chart | ERIC B | SE0000108656 | 4-Traders
Technical analysis trends ERICSSON
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 26
Average target price 60,0  SEK
Spread / Average Target -11%
EPS Revisions
Managers
NameTitle
Erik Börje Ekholm President, Chief Executive Officer & Director
Ronnie Leten Chairman
Carl Mellander CFO, Senior VP & Head-Group Function Finance
Erik Ekudden Senior Vice President & Chief Technology Officer
Torbjörn Nyman Director
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