Swedish multinational telecommunications company providing network infrastructure, software, and services. One of the world's largest telecom equipment makers alongside Nokia.
Ericsson faced criticism in Sweden after removing all references to DEI from its 2024 annual report. The word 'DEI' appeared 0 times compared to 40+ times in 2023. Previous initiatives like 42 employee resource groups, gender diversity goals tied to executive compensation, and inclusive leadership training were absent. The company denied Trump administration influence, claiming changes were 'for greater clarity.'
Ericsson donated $500,000 (5.5 million SEK) to Trump's Presidential Inauguration Committee, the company's first-ever inauguration donation. CEO Börje Ekholm stated: 'We have a very large market share in the USA and we must be able to work with whoever sits in the White House.' A spokesperson said it 'underscores our commitment to the U.S.'
Ericsson pleaded guilty and paid $206 million for violating the FCPA's anti-bribery provisions, after breaching a 2019 DPA. The original 2019 settlement totaled over $1 billion for bribery in Djibouti, China, Vietnam, Indonesia, and Kuwait. In 2022, the company admitted it couldn't rule out that bribes paid in Iraq between 2011-2018 ended up with the Islamic State terrorist group.