Telia to Cut 900 Jobs in Push to Save 1 Billion Crowns Annually

3-line summary

• Swedish telecom operator Telia announced plans Monday to cut about 900 positions, roughly 6% of its workforce (about 14,100 positions as of October 1), targeting annual savings of 1 billion Swedish crowns, according to Investing.com. Restructuring costs are expected at about 600 million crowns in Q4 2026.
• Country-level cuts include 280 positions in Finland, 260 in Sweden, 150 in Norway, 110 in Lithuania and 100 in Estonia; about 220 positions will be shifted from common technology functions to country units. The reductions, subject to customary union negotiations, are targeted for completion by December 31, 2026, with full effect — and a net positive impact on free cash flow — expected by 2028.
• CEO Patrik Hofbauer said the plan aims to strengthen country-level authority and competitiveness, building on a customer-centric operating model introduced in December 2024; Telia said the restructuring costs will not affect its 2026 financial outlook, which it reaffirmed along with its medium-term targets. Financial details are due in its Q3 earnings report on October 22.

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