Ericsson suspends business in Russia, puts staff on paid leave
STOCKHOLM, April 11 (Reuters) - Ericsson (ERICb.ST)is 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 ($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.
Hundreds of Western companies have either withdrawn or suspended operations in Russia since the country invaded Ukraine in February while Western governments have imposed sanctions.
more:
http://www.reuters.com/business/ericsson-says-suspend-business-russia-indefinitely-2022-04-11/
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