Telenor issues 400 pink slips in Sweden

www.WirelessFederation.com/news: Telenor ASA, mobile operator of Norway will issue 400 pink slips in Sweden out of a total of 2,400 employees because of disappointing sales, the company’s Swedish subsidiary said.
“Despite our major efforts, revenues have not increased at the desired rate. We now have significantly higher prices than our rivals and this is untenable long-term,” said Lars-Aake Norling, Head of Telenor Sweden.
The operator experienced a drop in net profits in the first quarter, attributed to recession, particularly in Russia and Ukraine, and the company had announced it would be cutting costs.