Ericsson narrows losses in Q1, to continue R&D push for 5G

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(Telecompaper) Ericsson said its restructuring process, which made the company write down assets and let go of personnel, started showing positive results in the first quarter, with still lower revenues, but higher margin and profit figures. The company reduced its total workforce by over 3,000 in the quarter, bringing the full number to almost 18,000 since reductions were started in July. The annual run-rate of savings has so far reached SEK 8.5 billion, and the goal is to reach SEK 10 billion by mid-year.
Source: Industry News (syndicated from Telecompaper.com)

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