Ericsson to close down telecom cable manufacturing
· Primarily impacts operations in Hudiksvall and Stockholm in Sweden; notice of reduction of 318 positions in Hudiksvall · Union negotiations initiated; expected to be completed during the third quarter 2013. No individual notice of termination will be given before August · Ericsson initiates the closure of its development and production of cables Ericsson (NASDAQ: ERIC) today initiated union negotiations to close down its telecom cables operation within business unit Networks. As the market for copper cable has declined and the market for fiber cable has grown over the last