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.
The Swedish network operator Telia will dismiss around 850 employees as a part of cost reduction measures. Around 600-650 of the dismissals will take place in Sweden, and another 200 in other countries. The dismissals are to be executed promptly, as the company aims at lowering the costs of the second half of 2017 by 5% compared to the second half of 2016.
The cost savings measures follow reports of declining turnover and profits. Telia says that the negative results concern Sweden, where the overall costs are somewhat too high, and, more importantly, there have been delays in fibre installations. The company is currently carrying out an important reorganisation of its activities in Sweden, including new platforms, products and systems. Other market areas are economically more in balance.
Sources
20 July 2017: Dagens Industri
20 July 2017: Affärsvärlden
Citation
Eurofound (2017), Telia, Internal restructuring in Sweden, factsheet number 91552, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91552.
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