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Tue, Apr 23, 2002 - Page 21 News List

Ericsson set to eliminate 17,000 jobs

SLIPPAGE The world's No. 1 manufacturer of mobile phones says that its customers aren't placing orders, earnings losses are expected and its shares are plummetting

BLOOMBERG , STOCKHOLM

Ericsson doesn't consolidate sales at the unit.

The company's "other operations," which include cables, semiconductors and the part of the handset business that wasn't transferred to the Sony venture, lost 1.3 billion kronor in the quarter, less than analysts had expected.

Ericsson still plans to sell units such as the semiconductor business and its cable equipment division if it can find buyers, Hellstroem said.

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