Sweden's telecom company Telia to cut 3,000 jobs to reduce expenses
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 04 2024
0mins
Source: SeekingAlpha
Job Cuts Announcement: Telia plans to cut 3,000 jobs, about 15% of its workforce, aiming for SEK 2.6B in annual savings, with significant impacts in Sweden and other countries.
Restructuring Initiatives: The company is also restructuring its vendor financing program, reducing its volume by approximately 50% in H2 2024 to stabilize cash flow while minimizing effects on net profit.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
