Ericsson Suspends Business in Russia, Puts Staff on Paid Leave
KONTAN.CO.ID - STOCKHOLM. Ericsson suspending its business in Russia indefinitely and has put employees on paid leave. Six weeks after the Swedish telecom equipment maker started a review of the impact of Western sanctions on its operations.
The company said on Monday, it would record a 900 million crown (US$ 95 million) provision in the first quarter for impairment of assets and other exceptional costs related to the move. Ericsson has about 600 employees in Russia, a spokesperson said.
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