Sweden's Telia to cut 3,000 jobs this year in cost-saving drive
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 04 2024
0mins
Source: Reuters
Workforce Reduction: Telia plans to cut approximately 15% of its workforce, equating to around 3,000 jobs, as part of a strategy to reduce annual costs by 2.6 billion Swedish crowns ($253 million) due to declining ad sales and inflation impacts.
Restructuring Strategy: The company is implementing a multi-year restructuring plan aimed at simplifying operations, enhancing decision-making speed, and increasing accountability in various countries, with further details expected during the Capital Market day on September 26.
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.
