Swedish carrier Telia is set to cut 3,000 jobs this year as part of cost reduction measures.

The proposed cuts would equate to around 15 percent of its workforce, and deliver annual savings of 2.6 billion Swedish crowns ($253 million), the operator said today (September 4).

The carrier, which serves more than 25 million customers across six markets, expects to book a charge of SEK 1.4 billion ($97 million) in the second half of the current financial year.

Telia plans to complete the layoffs by December 1, 2024.

Telia operates in Sweden, Finland, Norway, plus the Baltic nations of Estonia, Latvia, and Lithuania. The cuts are set to impact all of these markets.

“This is a tough decision, but one that is necessary to ensure the long-term success of Telia. Together with the board and my leadership team, we are set to eliminate barriers to execution and reduce layers of organizational complexity so that we can better serve our customers," said Patrik Hofbauer, Telia Company president and CEO.

"I envisage that this intended approach will not only result in a Telia that is simpler and faster in decision-making and commercial execution, but also help us to grow our business and generate enough cash so that we can make necessary investments and cover our dividend, as we remain committed to our dividend policy."

The company noted that the planned changes are subject to customary union negotiations, and it will provide more information about the scheduled workforce reductions as soon as those negotiations are finalized.