Ericsson still sees restructuring costs of 4 billion SEK in 2012

Reuters News

11/7/2012 4:22:47 AM - Reuters News

STOCKHOLM (Reuters) - Telecoms gear maker Ericsson repeated on Wednesday it expected total restructuring charges of around 4 billion crowns ($597.21 million) in 2012 after it announced sweeping job cuts in Sweden.

A spokeswoman for the company declined to give financial detail of a new cost-saving package, but repeated the 4 billion crown figure for this year.

Ericsson earlier said it would cut 1,550 jobs in Sweden.

(Reporting by Simon Johnson, editing by Patrick Lannin)