Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Ericsson Plans Layoffs
Feb 4, 2008
 Printable format
 Email this Article
 Search

Wireless equipment maker LM Ericsson AB reported a sharp drop in fourth-quarter net profits and said it would lay off around 1000 employees in Sweden because of costs cuts. Ericsson's CEO Carl-Henric Svanberg said job-cuts would also be planned worldwide to reach its annual cost cut goal of US$629 million.

One-time costs are expected to reach around 4 billion kronor ($629 million). The full effect of the move is expected in 2009, it said, and most of the layoffs in Sweden would be made through voluntary programs.

Operating margin for the quarter fell to 14 percent, from a previous 22.5% in the same three months in 2006. Fourth-quarter net profit fell 42% to 5.6 billion kronor ($880 billion), down sharply from 9.73 billion kronor in the year-ago period. For the full year 2007, net profit dropped around 16% to 22.1 billion kronor ($3.5 billion), compared with 26.25 billion in 2006. Sales for the three-month period ended Dec. 31 remained almost unchanged at 54.5 billion kronor ($8.57 billion) from 54.2 billion kronor in the same period the year before. (AP)

Back to Daily News

 

Daily News

...........................................................

Oct 22, 2014: Middleby to add U-Line to residential appliance business

Oct 22, 2014: iRobot's 3Q exceeds expectations, driven by Home Robots growth

Oct 22, 2014: Whirlpool Canada named 2014 Energy Star Manufacturer of the Year

Oct 22, 2014: ACCA wants the HVAC manufacturers to develop open, universal communication protocols

Oct 22, 2014: IHA launches website to connect OEMs with consumers

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows