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3,000 jobs to go at Telia

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17:56 CET+01:00
Telia Sonera has posted a pre-tax profit of 17.5 billion crowns for 2004 but tough competition means that the operator will have to save some 5-6 billion crowns over the next few years.

The cutbacks will be felt throughout the business - from HQ to marketing, sales, product management and R&D - and some 3,000 jobs will be cut within the next three years. Telia Sonera's share price rose by 3 per cent on Friday and closed at 42.60 crowns.

IP telephony poses a threat to Telia

Telia Sonera stands to lose revenue on fixed subscriptions as a result of IP telephony, and the medium is, according to one analyst at Kaupthing, the biggest threat to the former national carrier. With the technology, anyone who has broadband can make calls via the Internet instead of using landlines.

Telia Sonera and Tele 2 in dispute

A dispute between Telia and Tele 2 over interconnect traffic tariffs has been raging for more than four years and four men stand accused of having defrauded Telia of more than 30 million crowns by exploiting the tariffs. The matter took a new turn last week when Telia sent a letter to the Post and Telecom Agency suggesting that Tele2 had charged incorrect tariffs and mislead the company. According to DI sources, Tele2 may have invoiced Telia more than 100 million crowns for services that should have been charged at a lower tariff.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri

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