Ericsson Chalks Out Restructuring Plans

Ericsson ERIC disclosed plans to restructure its operating units to focus on mobile infrastructure and business customers, effective June 1.
EVP Arun Bansal and Peter Laurin, head of the business area managed services, will leave the company.
Also Read: Ericsson Shares Drop Post Q1 Results; Acknowledges DOJ Penalty, Russia Business Suspension
Ericsson created a new business unit by merging digital services and managed services to increase its cloud expertise and build automation and artificial intelligence products. Ericsson veteran Per Narvinger will lead the division.
A new unit for enterprise wireless business will develop 5G-related products to meet the needs of big companies. Cradlepoint CEO George Mulhern will helm the division.
Price Action: ERIC shares traded lower by 1.49% at $7.93 in the premarket session on the last check Wednesday.

Overview Rating:

Speculative

0100