Operator group Tele2 unveiled plans to reduce its workforce by around 15 per cent during 2025, subject to negotiations with unions, part of a wider transformation plan designed to improve its bottom line.

In its annual results statement for 2024, CEO Jean Marc Harion explained the so-called deep transformation of the business in 2025 is necessary to ensure it is able to swiftly capture market opportunities.

The cuts amount to between 600 and 700 full-time roles, Tele2 estimated.

Other changes include “reinforced cost consciousness”, a simplified organisation and “stricter prioritisation” to improve profitability.

Harion took the helm in November 2024 and cautioned the year ahead would be “full of challenges”, but noted it was raising ambitions and was “certain that our new Tele2 will soon be fit to deliver more value to our shareholders”.

On the impact of the reorganisation on employees he stated: “Myself and all Tele2 leaders carry a great responsibility in the coming months to ensure that this process is as transparent, respectful and supportive as possible”.

In 2024 its net profit was SEK3.9 billion ($354.3 million) up 3.5 per cent year-on-year. Revenue from continuing operations was SEK29.5 billion, up 1.8 per cent.