To book H2 restructuring charges 1.4 bln Swedish crowns (Il Sole 24 Ore Radiocor) - Stockholm , 04 Sep - The Swedish telecommunications company Telia said it plans to cut 3,000 jobs this year across all units as it seeks to simplify its business and cut costs.

Telia said it plans to book restructuring charges of 1.4 billion Swedish crowns in the second half of 2024, with expected annual savings of at least 2.6 billion.

"While Telia already holds strong positions in its markets, the company sees opportunities to further increase its efficiency and simplify its structure to become faster in decision-making and commercial execution, and with a focus on ensuring its workforce is increasingly engaged, accountable and empowered to create impact," the commpany said in a statemnet.

Telia said the planned headcount reduction includes both employees and resource consultants. It had approximately 18,000 employees and 1,370 resource consultants at the end of 2023. Year-to-date, Telia has reduced its headcount by 455 positions, and aims to make the remaining reductions by December 1, 2024.

Telia noted its estimated restructuring charges are not expected to impact its full-year financial outlook statements for 2024, which relate to service revenue growth, adjusted EBITDA growth, capex excluding fees for licenses, spectrum and right of use assets, and the structural part of operational free cash flow.

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(RADIOCOR) 04-09-24 08:28:06 (0154) 5 NNNN