STOCKHOLM (dpa-AFX) - Ericsson (ERIC) announced that its global cost and efficiency program, announced at the company's Capital Markets Day on November 13, 2014, is progressing according to plan. Ericsson said, as the next step of this activity, individuals on different locations in Sweden have been given notice during June. In total, there will be a reduction of approximately 2,100 positions, with some 1,700 employees leaving the company.
For the second quarter of 2015, the company expects restructuring costs of approximately SEK 2.5 billion. The company noted that these estimated costs include normal ongoing restructuring as well as charges related to the cost and efficiency program, in the current quarter primarily driven by changes in Sweden.
Ericsson said savings related to the global cost and efficiency program will start to impact results towards the end of 2015.
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