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Ericsson to Restructure Operations, Two Execs to Depart

A general view of an office of Swedish telecom giant Ericsson. Reuters file photo
A general view of an office of Swedish telecom giant Ericsson. Reuters file photo
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Ericsson to Restructure Operations, Two Execs to Depart

A general view of an office of Swedish telecom giant Ericsson. Reuters file photo
A general view of an office of Swedish telecom giant Ericsson. Reuters file photo

Sweden's Ericsson on Wednesday laid out plans to restructure its operating units to focus on mobile infrastructure and business customers, and announced that two senior executives will leave the company.

A new business unit was created by merging digital services and managed services to increase its cloud expertise and build products for automation and artificial intelligence.

The unit will be led by Per Narvinger, who joined Ericsson in 1997, Reuters reported.

A new unit for enterprise wireless business, to be led by Cradlepoint CEO George Mulhern, will develop 5G-related products to meet the needs of big businesses.

Ericsson executives, Arun Bansal, currently executive vice president, and Peter Laurin, head of business area managed services, will leave the company.

The new organization will take effect June 1.

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Stricken Ubisoft Says to Close British Studio

The Ubisoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 29, 2019. (Reuters)
The Ubisoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 29, 2019. (Reuters)
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Stricken Ubisoft Says to Close British Studio

The Ubisoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 29, 2019. (Reuters)
The Ubisoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 29, 2019. (Reuters)

Struggling French games giant Ubisoft said Monday that it would close a British studio and lay off 185 people across Europe as part of a restructuring.

The job cuts, which also affect operations in Germany and Sweden, were "part of our ongoing efforts to prioritize projects and reduce costs that ensure long-term stability", Ubisoft told AFP.

Monday's announcement covered the closure of Ubisoft's studio in Leamington in central England and layoffs at another in Newcastle, as well as in Duesseldorf and Stockholm.

The 185 job cuts across Europe compare with around 18,000 worldwide employees at the group.

Ubisoft had already closed studios in San Francisco and Osaka and began winding down its Sydney operation after shooter "XDefiant" last year failed to strike a chord with players, shedding 277 jobs.

Another blow had come with the lukewarm reception of another game, "Star Wars: Outlaws", which missed sales expectations.

And in January, Ubisoft announced a delay to the release of the latest instalment in its money-spinning flagship series "Assassin's Creed", to March 20.

The step forced bosses to lower their financial forecasts for the year, and Ubisoft's shares have fallen more than 40 percent in the past 12 months.

It has said it is considering its "strategic and capitalistic options" going into 2025, with rumors the company could be bought out and taken off the stock market.