{"id":228439,"date":"2010-01-25T13:30:15","date_gmt":"2010-01-25T18:30:15","guid":{"rendered":"tag:contentnext.com,2010-01-25:article\/419-ericsson-will-cut-1500-more-jobs-uncertain-about-2010-growth-prospects"},"modified":"2010-01-25T13:30:15","modified_gmt":"2010-01-25T18:30:15","slug":"ericsson-will-cut-1500-more-jobs-uncertain-about-2010-growth-prospects","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/228439","title":{"rendered":"Ericsson Will Cut 1,500 More Jobs; Uncertain About 2010 Growth Prospects"},"content":{"rendered":"

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\n\t\t\t\t\t\t\t\t\t\"Ericsson
\n\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/p>\n

After reporting a 92 percent drop in fourth-quarter profits and falling short of analysts’ expectations, Ericsson (NSDQ: ERIC<\/a>) said today that its restructuring efforts will include cutting 1,500 more jobs for a total of 6,500. <\/p>\n

What’s more the company, which is the largest wireless equipment manufacturer, could not predict how 2010 will shake-out. Chief Executive Officer Hans Vestberg told Bloomberg in an interview<\/a>: “It\u2019s too early to say something about 2010.” The market \u201chasn\u2019t been getting worse in the fourth quarter, it\u2019s staying the same.\u201d<\/p>\n

The challenge is for Ericsson to maintain both marketshare and prices while facing aggressive competition from low-cost Chinese equipment manufacturers, like Huawei Technologies. Net income decreased to 314 million kronor ($43.4 million) in the fourth quarter from 3.89 billion kronor a year earlier. Analysts had anticipated profit of 2.5 billion kronor, according to Bloomberg. Revenue slipped 13 percent to 58.3 billion kronor.\n<\/p>\n

Whether Ericsson grows is independent of the overall market growing. Most operators are making big infrastructure investments right now as they move from 3G to 4G. Ericsson also forecasts almost 3 billion new mobile subscriptions worldwide through 2014, adding to 4.6 billion existing ones.\n<\/p>\n

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After reporting a 92 percent drop in fourth-quarter profits and falling short of analysts’ expectations, Ericsson (NSDQ: ERIC) said today that its restructuring efforts will include cutting 1,500 more jobs for a total of 6,500. What’s more the company, which is the largest wireless equipment manufacturer, could not predict how 2010 will shake-out. Chief Executive […]<\/p>\n","protected":false},"author":2853,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-228439","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/228439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/2853"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=228439"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/228439\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=228439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=228439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=228439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}