At present, the Telia Group companies in Lithuania employ a total of about 2.8 thousand people. of employees, according to Rekvizitait.lt data: “Telia Lietuva” has 1,921 employees, and the service center “Telia Global Services Lithuania” has 942.
How 15min informed Audrius Stasiulaitis, representative of Telia Lietuva, the redundancies will affect almost all divisions of the group’s companies proportionally, to a lesser extent – customer service specialists.
What does this mean for the market?
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Marketing manager of CV-Online job portal Rita Karavaitienė 15min said that when large companies announce layoffs of this magnitude, especially in telecommunications, one of the areas that create high added value, it is worrying.
“Today, it seems no longer surprising when it comes to the textile industry – there are both smaller layoffs and companies facing difficulties. However, when we see the announcement of such a large company about layoffs, the news is a little disturbing. On the other hand, 400 employees are laid off, most likely, other organizations engaged in similar activities will soon be interested in them, they will grab those talents, but the news is not the best”, concluded R. Karavaitienė and added that if investments in employee retention pose challenges to such a company – the situation is really complicated.
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#Experts #mass #dismissal #Telios #employees #disturbing #news #Business
2024-09-08 23:21:27
What are the main reasons behind Telia’s decision to lay off 3,000 employees?
Telia’s Massive Layoffs: A Cost-Saving Drive Amidst Industry Challenges
In a move to cut costs and revamp its operations, Swedish telecommunications company Telia has announced plans to lay off approximately 3000 employees by December 1, 2024 [[1]] [[2]]. This massive restructuring effort comes as the company seeks to stay competitive in an industry facing significant challenges.
According to reports, Telia had around 18,000 employees and 1,370 consultants before the layoffs were announced. The company, which operates in Sweden, Finland, Norway, Estonia, Latvia, and Lithuania, aims to complete the layoffs by December 1, 2024 [[2]]. The restructuring program is expected to result in costs of approximately SEK 1.4 billion (€0.12 billion) in the second half of 2024 [[3]].
The layoffs are expected to affect almost all divisions of the group’s companies proportionally, with customer service specialists being less affected [[div]]. This news has sparked concern among industry experts, with some expressing worry about the impact on the telecommunications sector.
Rita Karavaitienė, marketing manager of CV-Online job portal, described the announcement as “disturbing” and “complicated” [[div]]. She emphasized that when large companies like Telia announce layoffs of this magnitude, it sends a ripple effect throughout the industry. However, she also noted that other organizations engaged in similar activities may be interested in hiring the laid-off employees, considering their valuable skills and experience.
The telecommunications industry has been facing significant challenges in recent years, with increased competition, regulatory pressures, and evolving customer needs driving the need for companies to adapt and transform. Telia’s cost-saving drive is seen as a strategic move to stay ahead of the curve and remain competitive in this rapidly changing landscape.
As the industry continues to evolve, it remains to be seen how companies like Telia will navigate these challenges and emerge stronger on the other side. One thing is certain, however – the impact of these layoffs will be felt throughout the industry, and it’s crucial for companies to prioritize employee retention and talent acquisition to stay ahead of the competition.
References:
**Questions:**
Telia to Lay Off 3000 Employees: What Does This Mean for the Market?
Swedish telecoms company Telia has announced plans to lay off approximately 3000 workers as part of a cost reduction programme [1[1]. This move will affect employees across several countries, including Sweden, Finland, Norway, Lithuania, Estonia, and others.
The Impact on Lithuania
In Lithuania, Telia Group companies currently employ around 2.8 thousand people, with Telia Lietuva having 1,921 employees and Telia Global Services Lithuania having 942 [2[2]. The redundancies will affect almost all divisions of the group’s companies proportionally, with customer service specialists being less affected.
What Does This Mean for the Market?
The announcement has raised concerns about the impact on the market, particularly in the telecommunications sector. Rita Karavaitienė, marketing manager of CV-Online job portal, expressed that large-scale layoffs in high-added-value industries like telecommunications can be disturbing [3[3]. However, she also noted that other organizations in similar activities may be interested in hiring the laid-off employees, which could mitigate the negative impact.
The Reasons Behind Telia’s Decision
While the exact reasons behind Telia’s decision to lay off 3000 employees are not specified, it is likely that the company is looking to reduce costs and streamline its operations. The telecoms industry is highly competitive, and companies are under pressure to stay ahead of the curve. Additionally, the COVID-19 pandemic has accelerated the shift towards digital transformation, leading to changes in the way businesses operate.
Conclusion
Telia’s decision to lay off 3000 employees will undoubtedly have an impact on the market, particularly in the telecommunications sector. While it may be a challenging time for those affected, the news is not all doom and gloom. Other companies may see this as an opportunity to hire talented employees, and the market may eventually bounce back. As the telecoms industry continues to evolve, companies like Telia must adapt to stay competitive.
References:
[1] The Local. (2024, September 4). Swedish telecoms company Telia to lay off 3000 workers. Retrieved from
[2] Delfi. (2024, September 4). Telia to lay off 400 staff in Lithuania as part of organisational overhaul. Retrieved from
[3] Data Center Dynamics. (2024, September 4). Swedish telco Telia to cut 3000 jobs this year. Retrieved from