Ericsson will close its representative office in Russia by the end of 2022

News
Ericsson will close its representative office in Russia by the end of 2022
Ericsson will close its representative office in Russia by the end of 2022
29 August, 09:27Society
The representative office in Russia of the Swedish manufacturer of telecom equipment Ericsson will be liquidated before the end of this year, all employees will be fired.

According to Kommersant, citing its sources in the telecom market, “as the obligations to customers are fulfilled” in the coming months, and they promised “financial and social” support to employees. The company employs 565 people. The company's share in the Russian telecom equipment market is 20%.

JSC Ericsson Corporation was founded in 1994. It is headed by Maria Tokareva. At the end of last year, the company's revenue amounted to 4.9 billion rubles, net profit - 533 million rubles.

Ericsson announced in April that it was suspending operations in Russia under the EU's fifth round of sanctions, which bans the transfer of technology and solutions to state-controlled Russian telecom operators.

Found a typo in the text? Select it and press ctrl + enter