Sweden's Telia to cut around 900 jobs and save $100 million (updated)
UPDATE 1-Sweden's Telia to cut around 900 jobs and save $100 million Adds detail on job cuts, quote in paragraphs 1-7
STOCKHOLM, Oct 12 (Reuters) - Swedish telecom operator Telia TELIA.ST said on Monday it planned to cut around 900 jobs across the company, roughly 6% of its workforce, and cut annual operating costs by 1 billion crowns ($99.96 million).
"As the next step in becoming a simpler, faster and more efficient company, Telia intends to localize its operations further and strengthen the role of its country units in meeting evolving customer needs and delivering profitable growth," it said in a statement
Telia said it aims to transfer around 220 positions to its respective country units
As of October 1, the company had 14,100 employees
Telia expects to complete the job cuts by the end of the year, it said
Telia will book restructuring charges of around 600 million crowns this quarter, with cash flow effect from the measures seen mainly in 2027
Telia reiterated its financial outlook for 2026 and mid-term financial targets
($1 = 10.0042 Swedish crowns)
(Reporting by Louise Rasmussen, editing by Anna Ringstrom)
((Louisebreusch.rasmussen@tr.com; +45 21 27 97 79;))