Tele2: profitability plan with 15% cut to workforce
(CercleFinance.com) - Tele2 was one of the best performers on the STOXX Europe 600 index on Wednesday, after unveiling a plan to improve profitability on the occasion of the publication of its Q4 results.
The Swedish telecom operator explains that this "profound transformation" - designed to enable it to become "faster and more agile" - will result in a 15% reduction in its workforce over the next 12 months.
Given that the group employed 4,485 people at the end of 2023, this would mean over 600 job cuts.
In Q4, Tele2 reported organic sales growth of 1% to 7.8bn SEK, while EBITDAaL, a key industry metric, rose by 1% to 2.7bn SEK.
Tele2 also stated that it had achieved its annual targets for 2024, with organic EBITDAaL growth reaching 2%.
For 2025, the Scandinavian operator said it was aiming for accelerated organic EBITDAaL growth, expected between 5% and 10%, which led to a 7% rise in its share this Wednesday.
Copyright (c) 2025 CercleFinance.com. All rights reserved.
The Swedish telecom operator explains that this "profound transformation" - designed to enable it to become "faster and more agile" - will result in a 15% reduction in its workforce over the next 12 months.
Given that the group employed 4,485 people at the end of 2023, this would mean over 600 job cuts.
In Q4, Tele2 reported organic sales growth of 1% to 7.8bn SEK, while EBITDAaL, a key industry metric, rose by 1% to 2.7bn SEK.
Tele2 also stated that it had achieved its annual targets for 2024, with organic EBITDAaL growth reaching 2%.
For 2025, the Scandinavian operator said it was aiming for accelerated organic EBITDAaL growth, expected between 5% and 10%, which led to a 7% rise in its share this Wednesday.
Copyright (c) 2025 CercleFinance.com. All rights reserved.