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Technology Stocks : Ericsson overlook?
ERIC 9.570-1.4%Dec 12 9:30 AM EST
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To: P2V who wrote (1658)5/26/1998 7:56:00 AM
From: tonto  Read Replies (1) of 5390
 
ERICSSON TO DOWNSIZE OPERATIONS IN INDIA NEW DELHI

Ericsson is downsizing its operations in India and has deferred all major investments in view of the uncertain outlook for telecommunications in the country, said vice-president and general manager Anil Raj. He said the Swedish company will shut a few of its 19 offices in India and retrench some staff. He said Ericsson's unit in India is not profitable, but hopes to break even within three to four years.
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