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Telenor Continue Cost Cutting Program

The digital era that has generated disruptive with the emergence of OTT players, forcing operators to perform massive efficiency. No exception with Telenor Group. The Scandinavian-based operator will make further efficiency savings by 2018, in line with efforts to refocus business and pursue a digital transformation strategy.

According to a Reuters report, Telenor CEO Sigve Brekke ruled out acquisition activity in the next twelve months, and reiterated plans to increase “digitizing” efforts and reduce overhead, as it has reduced costs throughout 2017.

Telenor managed to save NOK1, 7 billion ($ 209 million) between January and late September 2017. That achievement exceeded the initial target set at NOK1 billion.

Plans to simplify business and reduce overhead costs were inaugurated in February 2017, including completing 170 jobs in Telenor Norway. The main plan is to return to “Growth Company”.

Brekke said the company has reorganized the business into four regional groups that include Scandinavia, Central and Eastern Europe, Emerging Asia and Mature Asia.

In its latest financial report – revealed in October and covering Q3 2017, Brekke said that Telenor will continue to transform its business.

“By focusing on core digitization, improving efficiency across the company and sustaining growth, where companies see trends and potentially convincing,” he concluded.

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Written by DI

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