Ericssons cost reduction plan aimed at saving the company more than $1.05 billion in expenses by year-end 2017 is progressing ahead of schedule. While this means that no further layoffs are planned for the companys workers in Sweden, it will result in higher restructuring costs in 2016.
Ericsson said that total restructuring costs for 2016 are estimated to be between $606 million and $710 million compared to the previous estimates of $440 million to $550 million. However, in 2017 the restructuring costs will decrease. Exactly how much the costs will decrease will not be revealed until the companys fourth quarter results are released in January.
Ericsson announced in October that it was slashing 3,000 jobs from its w…
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