Ericsson announces major restructuring, impairments

Ericsson on Tuesday kicked off a major restructuring that includes overhauling its senior management and a strategic review of its media and IT cloud hardware divisions, as it seeks to revitalise its business.The shake-up will result in a 3 billion kronor-4 billion kronor (€314.68 million-€419.63 million) hit on operating profit, plus restructuring charges of SEK2 billion, in the first quarter alone.It is the second restructuring announced by Ericsson in the last 12 months."For some t