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Telia in talks with unions for job cuts in Sweden, Finland and Norway

Telia warns of $1.9 billion impairment in Q4
Telia warns of $1.9 billion impairment in Q4 Copyright Thomson Reuters 2023
Copyright Thomson Reuters 2023
By Reuters
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By Supantha Mukherjee

STOCKHOLM - Swedish telecom operator Telia on Tuesday said it had initiated talks with unions in Sweden, Finland and Norway for further potential job cuts as part of a restructuring plan announced two years ago.

The current layoffs would impact around 100 positions in Finland, 150 in Sweden, and 70 in Norway, a source familiar with the matter told Reuters.

The company, which operates telecom networks in the Nordics and the Baltics, laid out plans in 2021 to slash billions of crowns in costs through 2025, including shedding staff, divesting assets and streamlining operations to boost growth.

Chief Executive Officer Allison Kirkby has raised investor hopes that she can spur growth and shareholder returns. Last quarter she said in an interview that the company was on track for 2 billion crowns in savings by the end of 2023.

"The transformation continues in 2023 where the local processes, including union negotiations, have now been initiated," Telia said in a statement.

Since 2021, Telia, which employs about 20,000 regular staff and consultants, has been reducing 1,000 positions every year.

The current round of layoffs would be completed in the first quarter, and the total number of eliminated positions for the entire year could exceed 1,000, the source said.

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