Ericsson shuffles its deck: job cuts could follow

19 Mar 2003

Three weeks before Carl-Henric Svanberg is set to assume his new post as chief executive officer of Swedish vendor Ericsson, the company has said it is already implementing changes to its management structure. On Svanberg’s initiative it appointed chief operating officer Per-Arne Sandstroem deputy CEO and ditched chief financial officer Sten Fornell with services division head Karl-Henrik Sundstroem. Analysts predict that the reshuffle could be an early indication of more radical measures to come, including another wave of job cuts.