Telecoms group TeliaSonera AB is shedding thousands of jobs as part of a cost-cutting plan and has warned of industry stagnation until companies find a way to profit from surging smartphone and tablet data traffic.
TeliaSonera, part-owned by the Swedish and Finnish states, has seen revenue flatline since 2008, despite rapid expansion in central Asia, as voice revenues across the industry are squeezed by competition, regulatory pressure and a global economic downturn.
The company said on Wednesday it would cut around 2,000 employees, or 7 percent of the total, as part of a quest for 2 billion crowns ($300 million) in cost savings over the next two years. It did not say where the jobs would be cut…
via UPDATE 2-TeliaSonera to cut thousands of jobs in flat market | Reuters.
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