plans a reorganization in which its CDMA business in San Diego will be significantly reduced and the headquarters operation eventually closed. The moves will result in about 250 job cuts over the next six to nine months.
The telecom equipment maker's Business Unit Mobile Systems CDMA has its administrative headquarters in San Diego. Following the move, the CDMA business unit will shift its responsibilities to other operations.
Ericsson's U.S.-traded ADRd were gaining 26 cents to $29.79 before the opening bell. The stock closed at $29.53 Tuesday on the