"Sounds like he's going to be out awhile," Holland told the Detroit Free Press.
Ericsson, who has one goal and seven assists in 29 games this season, is one of Detroit's top blueliners with a plus-9 rating.
He was injured during a collision in the first period of the Red Wings' 3-0 loss to the New York Islanders Monday.
The broken ribs could jeopardize Ericsson's appearance with Team Sweden in February's Sochi Olympics, the newspaper said.
Rosie O'Donnell unveils nearly 50-pound weight loss
Putin thinks Obama would save him if he were drowning