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Ericsson to cut jobs in Sweden and close two manufacturing plants in the UK.

NORDIC BUSINESS REPORT-27 March 2001-Ericsson to cut jobs in Sweden and close two manufacturing plants in the UK(C)1994-2001 M2 COMMUNICATIONS LTD http://www.m2.com

The Swedish telecommunications solutions provider Ericsson today (27 March) announced that it would be stepping up its efforts to streamline operations and reduce costs.

Ericsson said that its aim was to reduce ongoing costs by at least SEK20bn annually, beginning in 2002.

The new measures include a recruitment freeze across the whole company, a significant reduction in the number of consultants, the reduction of the workforce at Ericsson's facilities in Kumla and Linkoping by a total of 2,100 persons, and the termination of mobile phone production at Carlton and Scunthorpe in the UK.

Commenting on the back-to-profit programme, Ericsson's CEO Kurt Hellstrom said: "As the world leader in providing wireless infrastructure equipment and a leading supplier of wireless handsets, we remain optimistic about the medium- to long-term growth and profit potential of Ericsson as well as the whole telecommunications industry. But this efficiency programme is key for us to achieve a solid financial performance in difficult economic times."

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Publication:Nordic Business Report
Article Type:Brief Article
Geographic Code:4EUSW
Date:Mar 27, 2001
Words:198
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