COPENHAGEN: Swedish telecom operator Telia said on Wednesday it was looking to cut around 3,000 jobs, part of a plan to cut annual costs by 2.6 billion Swedish crowns ($252.65 million).
"This is a tough decision, but one that is necessary to ensure the long-term success of Telia," CEO Patrik Hofbauer said in a statement.
The company, which provides telecom services and operates TV channels in the Nordics and Baltics, has among other things been grappling with lower ad sales in its media business as inflation-hit companies tightened advertising spending. (US$1 = 10.2909 Swedish crowns)