Finnish telecommunications company Elisa announced plans to cut up to 450 jobs as part of a new cost-saving program, despite reporting revenue growth in its third quarter.
The company said on Thursday it is launching a transformation programme aimed at achieving annual cost savings of approximately 40 million euros, with the majority of savings expected from the first quarter of 2026.
The planned changes could lead to a reduction of up to 400 positions in Finland, according to the company.
“This programme is designed to accelerate the execution of our growth strategy, and to increase our agility and speed of operations, while simultaneously taking swift action to improve our competitiveness in the current market environment,” CEO Topi Manner said in a statement.
The announcement came as Elisa reported its third-quarter revenue grew 5% to 561 million euros from the same period a year earlier, while comparable earnings before interest, taxes, depreciation, and amortization rose 4% to 214 million euros.
However, the company faced increased competition, losing 20,400 post-paid mobile subscriptions during the quarter.
Mobile post-paid churn, a measure of customer turnover, increased to 22.3% from 17.1% in the previous quarter.
Elisa maintained its full-year guidance, estimating 2025 revenue and comparable EBITDA will be at the same level as or slightly higher than in 2024.
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Finnish telecommunications company Elisa said on Thursday it is launching a transformation program that could lead to the reduction of up to 450 positions.
Finnish telecom operator Elisa reported a rise in second-quarter revenue and core earnings, driven by growth in its mobile services and a strategic focus on new technologies like artificial intelligence and 5.5G.