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Technology Stocks : Nokia (NOK) -- Ignore unavailable to you. Want to Upgrade?

To: 49thMIMOMander who wrote (21654)	8/20/2002 4:00:24 PM
From: waitwatchwander	Read Replies (1) \| Respond to of 34857

Ericsson closes shop in Grimstad norwaypost.no 20. August 2002 The Swedish electronics firm Ericsson is closing down its research division for GPRS at Grimstad in Southern Norway, and 160 employees will be affected. The division will be closed within six months. At the same time the training facilities will also be closed, affecting another 15 employees, according to Nettavisen. -The cut-backs are due to the fact that the business is exposed to international competition, says Ericsson Norge CEO Tor Frydenberg. Frydenberg goes on to say that efforts are being made to try to find new jobs for as many as possible of the workers affected by the cut-backs. He says that after the restructuring, Ericsson Norge will continue the work on data communication for mobile phones at the Grimstad plant, in addition to defence technology at Halden and Asker. The Traffic Routing division at Asker will also remain operative. (NRK)