The head of Swedish-based telecommunications giant Ericsson says he believes the company is well placed to come through the economic crisis despite suffering a slump in profits.
Ericsson boss upbeat despite downturn
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Ericsson boss named as BP’s new chairman
Ericsson boss Carl-Henric Svanberg has been unveiled as energy giant BP’s new chairman, replacing Peter Sutherland. BP said Svanberg, who is Ericsson’s chief executive and also chairman of Sony Ericsson and a non-executive director of Melker Schörling AB, would join the board as chairman designate on September 1. He would take over fully from Sutherland on January 1 next year, ending his seven-year tenure at Ericsson
Toshiba, Sony Ericsson slash jobs
Two major electronics companies announced thousands of job cuts Friday as the global economic downturn continues to hit the labor market.