Ericsson, Nokia expected to post robust earnings

Article Abstract:

Nokia Corp. of Finland and Telefon AB L.M. Ericsson of Sweden, the top two telecommunications equipment makers in Europe, are expected to post strong performances for the first three quarters of 1998. Nokia Corp., which will officially release its report on October, 23, 1998, is expected to post pretax earnings of 8.7 billion Finnish markkaa ($1.74 billion) for the first nine months of 1998. Telefon, which is expected to remain behind its major European competitor, is expected to report pretax earnings of 12.3 billion kronor ($1.58 billion) for the first three quarters of 1998.

Comment:

Is expected to post a strong performance for the 1st 3 quarters of 1998

Finland, Telecommunications Equipment, Communications Equipment Manufacturing, Financial analysis, Telecommunications systems, Nokia Corp., Article

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Ericsson unveils plan to cut 11,600 jobs

Article Abstract:

Telefon AB L.M. Ericsson announced plans to downsize its labor force by 11,600 jobs around the world over the next two years. The move is part of the company's restructuring program. The downsizing will impact approximately 11% of Ericsson's labor force around the world. The firm has 104,000 workers internationally. The layoffs will also create approximately 3 billion kronor ($387.9 million) in yearly savings.

Comment:

To downsize its labor force by 11,600 jobs around the world over the next two years

Telephone and telegraph apparatus, Telephone Apparatus Manufacturing, Labor force information, Cellular Mobile Tel Switching Eqp, Human resource management, Wireless communications, Abstract, Cellular telephone equipment industry

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