Feeds

Jobs cuts at Ericsson

But credit rating improves...

  • alert
  • submit to reddit

The Power of One Infographic

Mobile equipment manufacturer Ericsson is closing a factory in Nynashamn, Sweden with the loss of 463 jobs. The factory makes base stations for mobile phone networks.

Not everyone will lose out - 70 jobs are transferring to other centres once the factory closes.

Ericsson has almost halved its workforce from a peak of over 100,000 in 2001.

In other news credit rating agency Fitch Ratings said it was improving Ericsson's corporate credit rating to BBB - which makes it "investment grade". Other agencies Moody's and Standard and Poor's rate the manufacturer at just below investment grade. The change should make it easier, and cheaper, for Ericsson to borrow money.®

Related stories

Microsoft punts telco platform
Sony Ericsson preps Walkman phone
Mobile phones shipments up 38% in Q4

Boost IT visibility and business value

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
HP and Microsoft prove it again: Big Business Doesn't Create Jobs
SMEs get lip service - what they need is dinner at the Club
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
US freemium mobile network eyes up Europe
FreedomPop touts 'free' calls, texts and data
prev story

Whitepapers

Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.