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Telecom equipment maker Ericsson divests Russian operation
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HELSINKI (Reuters) – Swedish telecom equipment maker Ericsson said on Thursday it had divested a customer support operation in Russia.
HELSINKI (Reuters) – Swedish telecom equipment maker Ericsson said on Thursday it had divested a customer support operation in Russia.
The new owners of the business, that has some 40 employees, come from the management of Ericsson’s Russian subsidiary, the company said in a statement.
Ericsson has previously announced it had decided to wind down its Russian businesses that used to employ 400 people.
(Reporting by Essi Lehto; editing by Niklas Pollard)
Frequently Asked Questions about Telecom equipment maker Ericsson divests Russian operation
1What is divestment?
Divestment is the process of selling off a subsidiary or business unit. Companies often divest to focus on their core operations or to raise capital.
2What is a subsidiary?
A subsidiary is a company that is completely or partially owned and controlled by another company, known as the parent company.
3What is corporate strategy?
Corporate strategy refers to the overall plan and direction of a company, including decisions about which markets to enter, how to allocate resources, and how to achieve competitive advantage.
4What is customer support?
Customer support is a service provided by companies to assist customers in resolving issues with their products or services, ensuring customer satisfaction and loyalty.
5What is employee divestment?
Employee divestment occurs when a company reduces its workforce or sells off parts of its business, often leading to job losses or changes in employment structure.
