logo
Plus   Neg
Share
Email

Ericsson Completes Planned Reduction Of Operations In Sweden - Quick Facts

Ericsson (ERIC) announced that it completed its planned reduction of operations in Sweden. 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.

Actual employees made redundant per site: Borås (24 employees), Gothenburg - Lindholmen and Mölndal (100), Karlskrona (30), Kumla (89), Linköping (78), Luleå (7), Lund (14), Malmö (8), Stockholm (569).

The company expects that restructuring costs associated with these actions will be about SEK -1.5 billion, impacting Group results in the first-quarter of 2013.

In November 2012, Ericsson had informed its employees in Sweden about the plan to reduce its operations in Sweden that involves a reduction of an estimated 1,550 positions, covering all job areas, including sales, general and administration, research and development, supply and service delivery.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Billionaire entrepreneur Elon Musk on Thursday showed off his concept for the Loop, a high-speed underground public transportation system that will carry up to 16 people and travel at 150 miles per hour. At the Boring Company Information Session, Musk and project leader Steve Davis provided details of the underground mass transit tunnels that the Boring Co. plans to build beneath Los Angeles. Raden has become the second smart luggage company to shut down this month after major U.S. airlines banned smart luggage with non-removable batteries earlier this year. In a statement on its website, Raden said that it is no longer in operation and that all existing shipments have been processed for delivery. The company is shuttering after three years of operation. Shares of AstraZeneca were losing around 2 percent in the London trading after the British drug major reported Friday lower profit in its first quarter amid weak margin, despite growth in product sales. Further, the company reiterated its outlook for fiscal 2018. The level of Externalisation Revenue, divestment timing and investment in launches impacted the overall results.
Follow RTT