Sweden's Tele2 plans to cut more than 600 jobs in 2025

Tele2 AB

29/01/2025 07:03

OSLO, Jan 29 (Reuters) - Swedish telecoms group Tele2
 TEL2b.ST  plans to cut more than 600 jobs in 2025 as it seeks
to reduce costs and boost profitability, the company said as it
reported a rise in fourth-quarter earnings on Wednesday.
    "Tele2 has initiated a transformation that aims to improve
profitability through stricter prioritisation, reinforced cost
consciousness and a simplified organisation," the company said
in its earnings report for the October-December period.
    The planned cuts include a workforce reduction of "around
15%", subject to labour union negotiations, the company added.
Tele2 had 4,438 employees at the end of 2023, the most recent
overview on its web site showed.
    "This will be a challenging time for all our colleagues,
especially those directly affected by the reorganisation," Tele2
CEO Jean Marc Harion said. 
    "These changes are however necessary to make Tele2 a faster
and more agile company, better equipped to swiftly capture
market opportunities," he said.
    Tele2's net profit rose in the fourth quarter to 1.0 billion
crowns ($91.10 million) from 0.9 billion crowns a year prior.
($1 = 10.9770 Swedish crowns)

 (Reporting by Terje Solsvik, editing by Anna Ringstrom)
 ((terje.solsvik@thomsonreuters.com; +47 918 666 70;))