TeliaSonera to lay-off 800
The Nordic telecoms giant TeliaSonera posted a 13 percent rise in net profits for 2010 Thursday, at the same time it announced it is cutting 800 jobs in Sweden and Finland.
Formed out of a merger of the former public telephone companies of the two countries, TeliaSonera says its net profit last year was US$ 3.31 billion. But it also noted a two percent drop in sales, partly attributed to the rise in the value of the Swedish krona.
Some 640 employees are to be laid off in Sweden, and 165 in Finland. However, the company says it will hire 200 employees in other areas this year.