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Technology Stocks : RATIONAL SOFTWARE- BUY OR HOLD

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To: Thomas Haegin who wrote (2405)4/28/1998 11:04:00 AM
From: Thomas Haegin  Read Replies (1) of 3115
 
Repost: ERICSSON TELECOM AB LAYS OFF 270 PEOPLE IN STOCKHOLM
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regards,
Thomas
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Ericsson Telecom AB today made 270 white collar workers redundant,
80 of which are to be offered early retirement. The redundancies
come following agreement with the local trade union representatives.
All those made redundant are employed in the Stockholm area.

The measures are a part of the changes announced at the end of last
year in order to improve profitability within Ericsson's business
area Infocom Systems. In January forewarning ("varsel" in Swedish)
of up to 1000 redundancies was given in connection with this. The
difference between that number and the number today actually made
redundant is a result of a number of preliminary outsourcing deals,
where the employees were taken over along with the business, as well
as the transfer of some staff to other parts of Ericsson.

Ericsson Telecom AB is offering those made redundant a financial
compensatory package as well as extra support in the form of the
Council for Redundancy Support and Advice (Trygghetsr†det) in order
to help those made redundant back into work. Ericsson Telecom AB has
also made extra internal resources available to support and help
those made redundant by the situation that has arisen.

Ericsson's business area Infocom Systems has reduced its number of
employees by around 10,000 since 1995. In December 1997, it was
announced that an additional 10,000 employees would be affected by
changes over the coming years in order to improve profitability and
to restructure operations in line with fast technical and market
developments. Today the business area has around 37,000 employees
and last year had a turnover of SEK 49.2 billion.

Ericsson's 100,000 employees are active in more than 130 countries.
Their combined expertise in fixed and mobile networks, mobile phones
and infocom systems makes Ericsson a world-leading supplier in
telecommunications.

FOR FURTHER INFORMATION, PLEASE CONTACT

Per Zetterquist, Vice President, Communications,
Ericsson Business Area Infocom Systems
Tel. +46 8 719 04 75
email. per.zetterquist(a)etx.ericsson.se

Ann-Charlotte Dahlstr”m, Vice President, Human Resources,
Ericsson Business Area Infocom Systems
Tel. +46 8 719 2075
email. ann-charlotte.dahlstrom(a)etx.ericsson.se

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