Swedish telecommunications operator Telia will cut 3,000 jobs in 2024

Swedish telecommunications operator Telia will cut 3,000 jobs in 2024 out of nearly 20,000 positions to save 2.6 billion Swedish kronor (230 million euros) per year, the company announced in a statement on Wednesday.**

The operator, present in the Nordic and Baltic countries, employed 19,370 people as of January 1st and will specifically cut 1,400 jobs in Sweden, where it employs 8,500 people, it said.

This restructuring "aims to make Telia simpler and faster in decision-making," said Patrik Hofbauer, the group's CEO, as quoted in the statement.

It should "also help grow our business and generate enough cash flow so that we can make the necessary investments and cover our dividend, as we remain committed to our dividend policy," he added.

A restructuring charge of 1.4 billion kronor will be recorded in the accounts for the second half of this year.

"Telia already holds strong positions in its markets," explained the operator, which nonetheless sees "opportunities to further increase efficiency and simplify its structure to become faster in decision-making and commercial execution."

Finland (635 jobs), Lithuania (400), and Norway (245) will be the three other countries most affected by these job cuts.

Last year, the operator reported a 3.7% increase in revenue to 88.8 billion kronor, with a net profit of 900 million kronor.