Cell Network increases demand for profitability

Cell Network increases demand for profitability - staff cutbacks in Malmö and Borlänge In the quest for profitability, Cell Network is now being forced to scale down staff numbers in Malmö and Borlänge. A total of 30 people will be affected by the cutbacks, mainly in Malmö. " Right now we must have a total focus on profitability," comments Niklas Flyborg, President and CEO Cell Network. "Our aim is for all companies within the Group to be profitable before the end of the year." At present, the managers of each company within the Cell Network Group are analysing their results and comparing them with their respective business plans. There will be some changes for those units which have failed to reach the targets for the first quarter. Union negotiations are under way. As yet, it has not been determined who is going to be affected by the redundancies. Cell Network will be offering support and assistance to those affected by the redundancies. For more information: Arvid Liepe, Dir. Investor Relations, Cell Network, phone: +46 (0)8 5220 4053, +46 (0)709 565185 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/18/20010518BIT00530/bit0001.doc http://www.bit.se/bitonline/2001/05/18/20010518BIT00530/bit0001.pdf