STOCKHOLM (Reuters) -Ericsson on Wednesday laid out plans to restructure its operations to focus on business customers and mobile infrastructure, announcing two senior executives will leave the company. Chief Executive Borje Ekholm said the move was aimed at boosting performance rather than cutting costs, and said it was too early to say whether there would be job losses. Ericsson, which competes with Nokia and Huawei for telecom equipment sales, had a rough start to the year that eroded its share price and fuelled an outcry from shareholders.
STOCKHOLM (Reuters) -Swedish prosecutors have opened a preliminary investigation in to alleged bribes paid by telecom giant Ericsson in Iraq, Swedish news agency TT said on Wednesday, quoting the prosecutor Leif Gorts as saying. "Yes, I can confirm that, but I can not go into more detail about what it concerns as it has just begun," Gorts told TT. Ericsson and the prosecutor could not be immediately reached by Reuters for comment.
The telecom equipment maker's first-quarter results were not impressive, and investors are also nervous about a potentially major legal issue.