Telenor cuts team of the group – will save 500 million – Telenor – Stock Exchange and Finance


– There are about 650 employees in the corporate team who are covered by the changes, just under 100 can be redundant, confirms Atle Lessum, Telenor's communications manager.

It was DN who first reported the case.

According to Lessum, the goal is to save NOK 500 million in this area by 2020.

– Clearer priorities

The Communications Manager writes that Telenor "saw that we should make clearer priorities as part of Telenor's modernization."

– Applies throughout the company; in the business units, all over the world and here in Fornebu. That means cuts in budgets and, unfortunately, also some redundancy as a result, he says.

– We hope you spend your time well and find solutions to the critical competence that is currently in the group unit. For it is expertise that is important for strategies. We hope we can stay in the group. We found that this is a common goal, says the representative of the group employed Esben Smistad.

There have been several cost-cutting rounds at Telenor. Among other things, 115 positions were cut off at Telenor Norway's technology division last year.

Must cut costs

The current efficiency plan was launched in early 2017 and says annual operating costs (cost basis) should be reduced from one to three percent.

And more recently, in the presentation of the fourth quarter results, CEO Sigve Brekke spoke about "a thinner and faster Telenor."

The company then showed several measures, which they felt could save billions.

Among them, the closure of the copper network, increased digital sales and distribution, as well as in the areas of IT and networks and customer service in Scandinavia.

"We are now starting to look at cost improvements after 2020 and are looking at structural measures that will reduce costs by 2023. In the fall we established a separate strategic cost program and in each business unit the administration identified a total of 40 specific measures" , said CFO Jørgen A. Rostrup during the presentation.


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