Ericsson overlook? Message Board

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Technology Stocks : Ericsson overlook?

ERIC 9.835

+3.6%

Jan 7 3:59 PM EST

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To: Jim Oravetz who wrote (4981)	4/11/2002 12:25:46 PM
From: Jim Oravetz	of 5390

Ericsson/Job Cuts -3: Follows Other Cost Reductions DOW JONES NEWSWIRES Ericsson, the world's largest manufacturer of equipment for mobile-telephone networks, eliminated or outsourced nearly 20,000 jobs last year, as sales fell 11%. It also spun off its loss-making mobile-phone operations into a joint venture with Sony Corp. (SNE). Ericsson had a 2001 net loss of SEK21.1 billion, its first-ever full-year loss. It had 85,198 employees at the end of 2001. It in February announced the elimination of 300 development jobs in Norway. Lindskog said the company has also cut development jobs in the U.S., the U.K. and Denmark. At 1420 GMT, Ericsson shares were down SEK0.40, or 1.0%, at SEK39.70.

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