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Article

11 Apr 2022

Author:
Alarabiya News,
Author:
// Zone Bourse

Ericsson suspends all Russia operations indefinitely over Ukraine war

11 April 2022

Swedish network equipment maker Ericsson said...that it was suspending all of its Russian operations over the war in Ukraine for the foreseeable future.

The telecom giant already announced in late February that it would stop all deliveries to Russia following Moscow’s February 24 invasion of Ukraine...

The company added that it was “engaging with customers and partners regarding the indefinite suspension of the affected business.”

“The priority is to focus on the safety and well-being of Ericsson employees in Russia and they will be placed on paid leave,” it said...

Ericsson has around 600 employees in Russia, and is a “major supplier to the largest operator MTS and the fourth largest operator Tele2,” a company spokeswoman told...adding that together with Ukraine, Russia accounts for less than two percent of revenue.

As a result, the equipment maker said it would record a provision for 900 million Swedish kronor ($95 million, 87 million euros) for the first quarter of 2022 for “impairment of assets and other exceptional costs,” though no staff redundancy costs were included...

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