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BRIEF-Ericsson says staff cuts ahead of plan, raises 2016 cost estimate
December 8, 2016 / 7:39 AM / a year ago

BRIEF-Ericsson says staff cuts ahead of plan, raises 2016 cost estimate

Dec 8 (Reuters) - Ericsson

* Update on cost and efficiency program

* Says intended reductions in Sweden announced on Oct 4, 2016 are progressing ahead of plan

* Ericsson says total company restructuring cost for 2016 estimated to SEK 5.5-6.5 bln, compared to previous estimate of SEK 4-5 bln, due to faster implementation of cost and efficiency program in Sweden

* Ericsson says restructuring costs for 2017 are expected to somewhat decrease, but will be communicated in conjunction with Ericsson Q4 result in January 2017

* Says voluntary program finalized - no further forced workforce reduction currently planned in Sweden

* Says voluntary program in sweden has been successfully completed and 1,600 employees will leave Ericsson through program on December 31, 2016 Source text for Eikon: Further company coverage:

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