Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Swedish telecommunications company Telia has announced a restructuring plan that involves 3,000 job cuts worldwide in 2024.
The layoffs will impact Telia's units in Sweden (1,400 positions) Telia-2024-SE, Finland (635) Telia-2024-FI , Lithuania (400) Telia-2024-LT, Norway (245) Telia-2024-NO, Estonia (160) Telia-2024-EE, and other locations (160).
The company has not yet specified which functions will be affected by the redundancies. The conditions of the programme will be negotiated with employee representatives according to local regulations.
This restructuring aims to streamline operations, decentralise functions to local country units, and improve decision-making and customer focus. The program will incur SEK 1.4 billion (€123.10 million) in the second half of 2024 but is expected to generate annual savings of at least SEK 2.6 billion (€229.52 million).
Telia operates in the Nordic and Baltic countries and employs 19,730 employees.
Eurofound (2024), Telia, Internal restructuring in World, factsheet number 201604, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201604.