Ericsson: Implementation of cost and efficiency program in Sweden
June 26, 2015 -- The global cost and efficiency program, announced at Ericsson's (NASDAQ:ERIC) Capital Markets Day on November 13, 2014, is progressing according to plan. The ambition is to achieve savings of approximately SEK 9 b., with full effect during 2017.
As part of the global program, on March 11, 2015, Ericsson announced that 2,200 positions in Sweden, mainly in R&D and Supply, were subject to notice. As the next step of this activity, individuals on different locations in Sweden have been given notice during June. In total, there will be a reduction of approximately 2,100 positions, with some 1,700 employees leaving the company.
For Q2 2015 restructuring costs of approximately SEK 2.5 b. are expected. These estimated costs include normal ongoing restructuring as well as charges related to the cost and efficiency program, this quarter primarily driven by changes in Sweden. Savings related to this specific activity will start to impact results towards the end of 2015.
Progress updates on the program will be included in Ericsson's earnings reports.
|
Related News
- Industry R&D Spending To Rise 9% After Hitting Record in 2021
- "Onshoring" chip production is a red herring: the UK should double down on its competitive advantage in R&D and IP to create a secure semiconductor supply chain
- Mentor joins Nano 2022 R&D program to foster innovation in semiconductor design and verification
- Why Must IBM Keep the Cost of Advanced Chip R&D?
- What is the cost of fabs and R&D at 22-nm?
Breaking News
- JEDEC® and Industry Leaders Collaborate to Release JESD270-4 HBM4 Standard: Advancing Bandwidth, Efficiency, and Capacity for AI and HPC
- BrainChip Gives the Edge to Search and Rescue Operations
- ASML targeted in latest round of US tariffs
- Andes Technology Celebrates 20 Years with New Logo and Headquarters Expansion
- Creonic Unveils Bold Rebrand to Drive Innovation in Communication Technologies
Most Popular
- Cadence to Acquire Arm Artisan Foundation IP Business
- AMD Achieves First TSMC N2 Product Silicon Milestone
- Why Do Hyperscalers Design Their Own CPUs?
- Siemens to accelerate customer time to market with advanced silicon IP through new Alphawave Semi partnership
- New TSN-MACsec IP core for secure data transmission in 5G/6G communication networks
![]() |
E-mail This Article | ![]() |
![]() |
Printer-Friendly Page |