Finance
Sweden's Tele2 plans to cut more than 600 jobs in 2025
Published by Global Banking and Finance Review
Posted on January 29, 2025
1 min readLast updated: January 27, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on January 29, 2025
1 min readLast updated: January 27, 2026
Tele2 will cut over 600 jobs in 2025 to improve profitability. The move is part of a broader cost-cutting strategy, with a 15% workforce reduction planned.
OSLO (Reuters) - Swedish telecoms group Tele2 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)
Tele2 plans to cut more than 600 jobs in 2025, representing around 15% of its workforce.
The job cuts are part of a transformation strategy aimed at reducing costs and improving profitability.
Tele2 CEO Jean Marc Harion stated that the changes are necessary for making the company faster and more agile to capture market opportunities.
Tele2's net profit rose to 1.0 billion crowns ($91.10 million) in the fourth quarter, up from 0.9 billion crowns a year prior.
Tele2 had 4,438 employees at the end of 2023, according to the most recent overview.
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