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Troubled Telia planning to knock off 2000 people

Wednesday, 17 October 2012

Swedish / Finnish Telecom operator TeliaSonera is planning to save Skr2 billion in the next two years. This means that 2,000 positions will be eliminated, according to the company's interim report.

TeliaSonera writes in the report that the aim is to fundamentally change the operating mode.
"Although Eurasia continued to reports double-digit growth and Broadband Services show a slight decline, we see a decline in service revenue in many of our markets in Mobility Services. In addition, growing our cost in the current situation faster than our revenues, and we must reverse this trend, "writes CEO Lars Nyberg.

The cuts now planned covers about 7 percent of the group's total workforce.
CEO Lars Nyberg also comments on the recent data on bribery and money laundering related to the purchase of frequencies in Uzbekistan.

"The allegations made against TeliaSonera is serious, even if we are convinced that they are without merit. In order to clarify the facts and determine whether there is any basis for the allegations, TeliaSonera has initiated an external legal review to be presented before the end of the year. National Unit for corruption has also launched an investigation, which we welcome, and we will work with, "writes Nyberg.

TeliaSonera reports a profit before tax of Skr6.612 billion for the third quarter. That compares with profit of Skr7.251 billion a year ago.
Analysts had on average expected a profit before tax of Skr6 738 million, according to Reuters.

Sales amounted to Skr25 842 million, compared to Skr26.707 billion a year earlier. There were expectations of Skr26.098 billion.
By Scancomark.com Team

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