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Technology Stocks : Ericsson overlook?

ERIC 9.400

+0.1%

3:59 PM EST

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To: Mika Kukkanen who wrote (4664)	4/20/2001 5:10:27 AM
From: elmatador	Read Replies (1) of 5390

Elmatador views of the job cutting plan. From the FT: Part of its drive to improve margins would include cutting up to 10,000 jobs, more than half of which would be outside Sweden. The 10,000 cuts would include more than halving the number of consultants from today's level of 15,000. The number of employees at the handset division will fall to less than 5,000 by the end of the year, the company said. How it will be done (according to elmatador): More than halving the number of consultants gives 7.500+ cuts. 5.000+ are foreigners who came to Sweden as consultants. Now remains those less than 2.500 additonal job cuts will come from: Closing the offices in Nepal and Vanutu minues 6 employes. Then the other 2494 are the ones retiring from May to December 2001. Voila Swedishness at work!!!

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