Telia CEO Allison Kirkby (pictured) maintained the operator group must stay on track in attempts to transform itself despite a turbulent macro environment, as the company moves on plans to cut its headcount by 1,500.
In its Q4 2022 earnings statement, Telia revealed a target of reducing its employee numbers by 1,000 in the current quarter with another 500 before the end of the year.
It also plans “further efficiencies on IT and marketing costs” as part of ongoing cost-cutting and business transformation efforts.
Kirkby noted efforts to change the business to make it more agile and resilient were “right” and it was important Telia did not waver.
“We are transforming a large, complex business in a challenging market and there are no shortcuts to success,” she said. “We have known from the start that achieving our ambitious goals demands focus, discipline and perseverance.”
“However, having returned the company to growth, expanded our 5G networks, passed our investment peak and built the foundations for better operational momentum and cash conversion going forward, I remain confident we are on the right track.”
Again pointing to high energy costs, increased interest rates and inflation, the executive noted expected power bill increases had eased slightly and highlighted measures it had taken towards employing energy saving technologies and dismantling legacy networks.
Telia booked a net loss of SEK18.8 billion ($1.8 billion) compared with a profit of SEK1.2 billion in Q4 2021.
The decline was largely due to taking a series of previously-announced non-cash impairments totalling SEK19.8 billion across several business units.
Revenue was SEK24.3 billion, up 3.8 per cent year-on-year.Subscribe to our daily newsletter Back