TietoEnator to cut 130 jobs
The Local · 2 Feb 2006, 10:25
Published: 02 Feb 2006 10:25 GMT+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.
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