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Ericsson to wind down business activities in Russia over coming months

08/29/2022

Less than a minute

2022.08.29 11:37

Ericsson to wind down business activities in Russia over coming months
FILE PHOTO: Ericsson logo is seen at its headquarters in Stockholm, Sweden June 14, 2018. REUTERS/Olof Swahnberg/File Photo

STOCKHOLM (Reuters) – Ericsson (BS:ERICAs) said on Monday it will gradually wind down business activities in Russia over the coming months as the Swedish telecom equipment maker completes its customer obligations.

The company, which suspended its business in Russia indefinitely in April, said it has about 400 employees in Russia and it would provide financial support to affected employees.

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08/29/2022

Less than a minute