Telia Company says its move to a country-led approach will create annual savings of at least SEK 2.6 billion.
Launched in September the change programme has resulted in the loss of 3,000 positions as the Swedish telco decentralised its operations in a bid to improve competitiveness.
The changes are expected to result in somewhat lower restructuring charges than previously thought, around SEK 1.3 billion instead of SEK 1.4 billion, with effect in Q4 2024.
Patrik Hofbauer, Telia Company President and CEO said: “We are creating a Telia fit for the future. Millions of people rely on our networks and services every day, so we have many unique strengths on which to build. We have made tough but necessary changes, and our employees’ dedication during this time has been exceptional. Through our new operating model, we can serve customers better, build performance in our teams, and grow in a way that supports investment and attractive shareholder returns.”
Since December 1, each Telia country unit – Sweden, Finland, Norway, Lithuania and Estonia – holds the main responsibility and accountability for commercial planning and execution, meeting customer needs and pursuing growth opportunities. To enable this, capabilities in IT, analytics, products, customer contact and strategy have moved from Telia’s central units to the countries.
At the same time, Telia is retaining the scalability and specialist expertise provided by a central strategic Technology unit and Group functions (Group Finance, Corporate Affairs, People & Culture, and Communications, Brand & Sustainability), each of which has refocused scopes and responsibilities in the new operating model.
