Swedish telecoms operator Telia will cut 3,000 jobs by 2024 out of nearly 20,000 positions in order to save 2.6 billion Swedish crowns (230 million euros) per year, it announced in a statement on Wednesday.
The operator, present in the Nordic and Baltic countries and which employed 19,370 people on January 1, will in particular cut 1,400 jobs in Sweden where it employs 8,500 people, he specified. This restructuring “must allow Telia to be simpler and faster in decision-making”, said Patrik Hofbauer, CEO of the group quoted in the press release. It must “also help to develop our activities and generate enough liquidity so that we can make the necessary investments and cover our dividend, because we remain committed to our dividend policy”, he added.
Increase efficiency
A restructuring charge of 1.4 billion crowns will be included in the accounts for the second half of this year. “Telia already has strong positions in its markets,” explains the operator, which nevertheless believes that it “sees opportunities to further increase its efficiency and simplify its structure to become faster in decision-making and commercial execution.”
Finland (635 jobs), Lithuania (400) and Norway (245) will be the three other countries most affected by these job cuts. The operator achieved a turnover last year up 3.7% to 88.8 billion crowns for a net profit of 900 million crowns.
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