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TietoEnator to cut 130 jobs

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10:25 CET+01:00
TietoEnator Corp said it plans to cut up to 130 jobs out of 720 at its Telecom Operators AB subsidiary in Sweden.

The adjustment will cost the company 5 mln eur in the first quarter, but it will generate savings of 5 million Euros later in the year, the IT services company said in a statement.

Negotiations with staff concerning the planned layoffs are to be finalised by the end of March, it added.

TietoEnator today posted fourth quarter profits above market expectations.

AFP

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