The Quotes are Powered By Forexpros, the Forex, Futures, and Stock Markets Portal.

As TeliaSonera enjoys huge profits from Scandal, the owners will feast while employees will be given matching orders

Thursday, 31 January 2013
TeliaSonera's businesses in areas with high human rights abuse such as the ongoing investigation into corruption with businesses in Uzbekistan, which attracts billions to their coffers and which makes it possible to pay their shareholders big dividends, common workers in the company will pay a heavy price - retrenchment.

This comes even though the company made its second largest profit since the merger of Telia Sonera. TeliaSonera reported a profit before tax of Skr7.023 million for the fourth quarter of 2012.

According to CEO, Lars Nyberg, 900 jobs are to go in Sweden in connection with the planned savings. In total, there will be reductions of 1,800 employees in the Nordic and Baltic countries. However, the company also expects to have to hire new employees to bring in new skills to certain growth sectors.

CEO Lars Nyberg continues to say that he considers the allegations of corruption and bribery in connection with their operations in Uzbekistan to be legally unfounded. Tonight, they will present their own finding, commissioned through TeliaSonera. But eh accusation has not been a good indication for the company and the company fears that anyhow the result comes, the stigma if bribery and corruption will not go away. Lars Nyberg said himself that the investigation relating to corruption will not leave the company.

TeliaSonera, is owned by the Swedish and Finnish states, and they can expect to receive Skr4.6 million in dividends. The Company offers a dividend of Skr 2.85 per share, the same as last year. TeliaSonera also has many shareholders, including small investors.

Lars Nyberg cannot specify which locations the job looses will apply. But there seem to be movement within the staff in the broadband and mobile services.
"We need to simplify and focus., I would say that our industry is facing a challenge we have not seen in decades. Our revenues for voice services are going down quite firmly while data traffic has exploded."
by Scancomark.com Team

We welcome your contribution. Did you find anything wrong with this article? Do you want to contribute to our news network? Do have a news tip or assist us with a correction