Friday, February 8, 2008

TeliaSonera AB to Cut 2,900 Jobs in Sweden and Finland

Swedish-Finnish telecomms operator TeliaSonera AB issued its year-end report on Friday (8 February), posting net sales of SEK96,344m, a 5.8% increase compared to 2006. The operating income amounted to SEK26,155m, up from SEK25,489m in the previous year. Earnings per share increased from SEK3.78 to SEK3.94. Despite recently having completed a programme to cut annual costs by SEK1.5bn, TeliaSonera announced new plans to reduce costs and improve efficiency.

The new programme aims at cutting an additional SEK5bn off costs, mainly by reducing a further 2,900 jobs in Sweden and Finland. Two-thirds of the new job cuts will take place in the Swedish organisation.

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