Ericsson (Stockholm, Sweden) announced plans to move its headquarters to Kista, Sweden, from Telefonplan in southern Stockholm. The move is to take place in stages during 2003 and involves approximately 500 employees working within different corporate functions.
In accordance with the plan, the new address for Ericsson headquarters will be Torshamnsgatan 23, owned by real estate company Drott. The reason for the move is lowering costs and improved efficiency. The plan for the move is pending negotiations with the trade unions according to Swedish regulations.
