Finnish telecommunications company Elisa said on Thursday it is launching a transformation program that could lead to the reduction of up to 450 positions.
The move, aimed at achieving annual cost savings of approximately 40 million euros, comes after the company reported strong second-quarter growth and announced investments in artificial intelligence and 5.5G technology.
The majority of the potential job cuts, up to 400, would be in Finland, with change planning negotiations expected to be completed by the end of the year, the company said.
The program also includes reductions in outsourced services and improvements in procurement efficiency.
“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.
He added that the actions will ensure the company achieves its medium-term revenue and core earnings targets.
Elisa expects the majority of the cost savings to be realized starting from the first quarter of 2026.
The company announced the plan on the same day it is scheduled to release its third-quarter interim report.
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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.
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.