Ericsson suspends all business in Russia

  • 📰 RTEbusiness
  • ⏱ Reading Time:
  • 9 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 61%

South Africa News News

Swedish telecom equipment maker Ericsson said its employees in Russia will be placed on paid leave.

"In the light of recent events and of European Union sanctions, the company will now suspend its affected business with customers in Russia indefinitely," it said in

a statement.Ericsson said it would record a 900 million crown provision in the first quarter for impairment of assets and other exceptional costs related to the move.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 16. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines