Implementation of cost and efficiency program in Sweden
(Thomson Reuters ONE) -
* Implementation of the cost and efficiency program in Sweden announced March
11
* Reduction of approximately 2,100 positions in Sweden
* As previously communicated, this will result in additional restructuring
charges which, combined with the normal restructuring, will amount to
approximately SEK 2.5 b. in Q2, 2015
* Savings related to this activity in Sweden will start to impact results
towards the end of 2015
The global cost and efficiency program, announced at Ericsson's (NASDAQ:ERIC)
Capital Markets Day on November 13, 2014, is progressing according to plan. The
ambition is to achieve savings of approximately SEK 9 b., with full effect
during 2017.
As part of the global program, on March 11, 2015, Ericsson announced that 2,200
positions in Sweden, mainly in R&D and Supply, were subject to notice. As the
next step of this activity, individuals on different locations in Sweden have
been given notice during June. In total, there will be a reduction of
approximately 2,100 positions, with some 1,700 employees leaving the company.
For Q2 2015 restructuring costs of approximately SEK 2.5 b. are expected. These
estimated costs include normal ongoing restructuring as well as charges related
to the cost and efficiency program, this quarter primarily driven by changes in
Sweden. Savings related to this specific activity will start to impact results
towards the end of 2015.
Progress updates on the program will be included in Ericsson's earnings reports.
NOTES TO EDITORS
Next step in global Cost and Efficiency program, March 11
Ericsson Capital Markets Day 2014, November 13
Download high-resolution photos and broadcast-quality video at
www.ericsson.com/press
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With approximately 115,000 professionals and customers in 180 countries, we
combine global scale with technology and services leadership. We support
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in 2014 were SEK 228.0 billion (USD 33.1 billion). Ericsson is listed on NASDAQ
OMX stock exchange in Stockholm and the NASDAQ in New York.
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FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Communications
Phone: +46 10 719 69 92
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Implementation of cost and efficiency program in Sweden:
http://hugin.info/1061/R/1930962/694169.pdf
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[HUG#1930962]
Unternehmensinformation / Kurzprofil:
Datum: 24.06.2015 - 11:00 Uhr
Sprache: Deutsch
News-ID 402632
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