Sweden's Telia to cut around 900 jobs and save $100 million

Telia to Cut 900 Jobs and Save $100 Million in Major Restructuring

Telia Announces Workforce Reduction and Cost-Cutting Measures

Overview of Job Cuts

STOCKHOLM, Oct 12 (Reuters) - Swedish telecom operator Telia 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).

Company Strategy and Restructuring Plan

• "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

Impact on Employees and Operations

• 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

Financial Implications

• 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 and Editorial Information

(Reporting by Louise Rasmussen, editing by Anna Ringstrom)